• 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 (https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/settings1eFew readers

• How to Apply Reverse Charge VAT?

  Reverse charge VAT is typically applied in situations where the responsibility for reporting and paying VAT shifts from the supplier to the customer. It is commonly used in business-to-business transactions involving goods or services that fall within the scope of reverse charge rules. It's important to note that the specific rules and conditions for applying reverse charge VAT may vary between countries. Therefore, it is advisable to consult with local tax authorities or a tax professional toFew readers

• Which Type of VAT is Appropriate for a Non-chargeable Goods?

  If you are a VAT payer and you want to invoice an item that is non-chargeable (e.g. deposit, security deposit, etc.) you need to add the VAT5 type with a 0% rate to your settings. How to do this? Select SETTINGS from the menu bar Select TYPES OF VAT in the sidebar Add theFew readers

• How to Activate the Display of VAT Types in Invoices?

  Adding VAT types to your account in Invoice123 is important for ensuring compliance with tax regulations, providing transparency to clients regarding tax components, and facilitating streamlined accounting and reporting. It helps accurately calculate and report VAT, simplifies tracking of taxable sales and input tax credits, and enhances customer trust by demonstrating credibility in tax compliance. How to do it? Select SETTINGS from the menu bar (https://storage.crisp.chat/userFew readers

• How to Apply the 9% VAT Rate?

  Reduced rate of VAT is applicable only to particular services/products. How to do it? Select SETTINGS from the menu bar Select TYPES OF VAT in the sidebar Add the VAT2 type with 9% RATE (https://storage.crisp.chat/users/helpdesk/website/a9835b72ea0f8000/screenshot-2024-05-30-atFew readers