Articles on: VAT application in invoices

How to Add VAT Types?

Adding VAT types in Invoice123 is essential for compliance with tax regulations, providing transparency to customers regarding applicable taxes, and streamlining accounting and reporting processes. It enables accurate tracking of VAT amounts, facilitates tax calculations, and ensures proper record-keeping for financial reporting and tax filing purposes.

How to do it?

Select SETTINGS from the menu bar

Select TYPES OF VAT in the sidebar

Add the desired VAT types

VAT types can only be added by VAT payers if the VAT code is entered in the system

Confirm the settings by clicking SAVE CHANGES

In the system it is possible to select all the VAT types specified by the VAT authorities, according to the classification provided. You can view it here
All the VAT types added in the settings can be used during the invoice writing process

VAT types can also be added and modified in the invoicing window

Updated on: 30/05/2024

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