Acubiz Expense can offer VAT codes for handling VAT when posting. Acubiz does not calculate VAT as this is transferred to the company's accounting system (ERP) based on the VAT code provided by Acubiz. This is a setup you, as a company, are responsible for in Acubiz.
Creating VAT codes in Acubiz:
The VAT codes are a list of the VAT codes used in the company's accounting system. This means that the list to be created in Acubiz must be identical to the real VAT codes used directly in the accounting.
Go to ADMIN => COMPANY SETTINGS => VAT CODES SETUP
Here is a list of VAT codes that have already been entered in Acubiz. This list must be updated with the correct VAT codes. A line in the field is equal to one VAT code, example:
The above are just examples and may vary from what they really are in your business.
When the list is updated with the correct VAT codes, press SAVE.
VAT codes in E-conomic
If your company uses e-conomic as an accounting system, you can benefit from creating the VAT code "LOOKUP", as the only code in Acubiz. This way e-conomic automatically takes the VAT-setup from the account directly in e-conomic.
Entering VAT codes on accounts
Once the VAT codes have been created correctly, these must now be updated on the individual accounts in Acubiz. Therefore go to the account plan via ADMIN => ACCOUNTS and open each account/cost type and select the VAT code via the following fields:
In each account, 3 VAT codes can be set up, which are determined on the basis of the country the individual transaction originate from.
- DK = the system country of the solution. Specifies the VAT code used if the transaction comes from the same country that is the system country of the Acubiz solution. The system country may be different from the country for the solution.
- For e-conomic, select LOOKUP here
- EU = If the transaction is made within the EU, this VAT code is used
- Other = All countries other than DK (Systemland) or EU, then this VAT code is used.
In each field you can choose between the VAT codes set up in the previous section.