VAT (TX205000)

The unique ID of the VAT.

You can use an alphanumeric string of up to 10 characters.

A detailed description of the VAT.

You can use an alphanumeric string of up to 30 characters.

The type of VAT.

• Sales
• Use
• VAT
• Withholding

A check box that indicates (if selected) that this is a deductible value-added VAT.

You configure this type of the VAT if your company is allowed to deduct some part of the VAT paid to a supplier from your own VAT liability to the government.

This check box is available only if the VAT reporting check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that this is a reverse VAT.

A reverse VAT is a type of VAT used in some countries of the European Union (EU).

When this type of VAT is applied to a company that supplies goods or services to other EU countries, the liability of the reporting VAT is reversed and goes to the customer rather than to the supplier.

This check box is available only if the VAT reporting functionality is enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that the VAT on documents will be calculated only for statistical purposes or will be reported only but not actually paid.

This check box is available only if the VAT reporting check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that the VAT that should be calculated in documents, but should not be recorded to the VAT report until the VAT invoice is received.

Later the VAT of the pending type can be converted into a general VAT in the Recognise input VAT (TX503500) or the Recognise output VAT (TX503000) windows.

This check box is available only if the VAT reporting check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

A check box that indicates (if selected) that this VAT should be calculated for documents only if the documents are added to a VAT invoice or VAT adjustment.

VAT invoices and adjustments are created in the VAT invoices and adjustments (TX303000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that this value-added VAT has a zero rate and is used to calculate a document subtotal that is actually exempt from VAT.

The calculated amount will be displayed in the VAT exempt total field in the documents (such as invoices).

This check box is available only if the VAT reporting check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that the VAT taxable amount should appear in the VAT taxable total field in the documents (such as invoices).

Clear this check box if you do not want the system to insert the taxable amount calculated based on this VAT into the VAT taxable total field of the documents.

This check box is available only if the VAT reporting check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

The method of calculating the tax amount, which is one of the following options:

Extract from item amount

The VAT amount is included in item amounts and will be extracted from the item amount.

Item amount

The VAT amount is not included in item amounts and will be added to the tax amount as first-level VAT.

Item and VAT amount

This VAT is a second-level VAT calculated on item amounts and the amounts of the first-level taxes.

Document amount

This VAT is a first-level VAT calculated on the document amount, not on a per-line basis. This VAT is calculated on the sum of line amounts of all the items with the same VAT applicable).

Document and VAT amount

This VAT is a second-level VAT calculated on the document amount and the amount of the first-level VAT.

The second-level will not include VAT amount for VAT ID’s that has the settings Exclude from VAT on VAT.

The method of calculating the tax base amount if a cash discount is applied. One of the following options can be selected:

• Reduces VAT amount: The taxable amount is decreased by the cash discount. The VAT amount is calculated on the document total amount minus the cash discount.

• Does not affect VAT amount (default option): VAT is calculated on the document total whether the cash discount is applicable or not.

• Reduces VAT amount on early payment: The system will adjust the taxable amount (by using the credit note) if the final payment has been received within the cash discount period (that is, before the Cash discount date specified in the invoice). For details, see: About VAT calculated for documents with cash discounts.

  Note

  This option is available for a VAT type of tax only (that is, a tax for which the VAT option is selected in the VAT type field).

A check box that indicates (if selected) that this is a first-level VAT.

With this check box selected, for calculating the second-level VAT amount in a document, the system uses the same tax base (taxable amount) that was used for calculating the first-level VAT amount. That is, the system excludes the first-level VAT amount from the tax base used for calculating the second-level tax amount.

If this check box is cleared, the system uses the first-level taxable amount plus the first-level VAT amount as the tax base for calculating the second-level VAT amount.

For details, see: About VAT settings.

The name of the tax agency to receive the VAT.

In Visma Net, tax agencies (as well other taxing authorities) are defined as suppliers. Select a supplier account from the list of accounts that are tax agencies, or leave the field blank.

The EU reporting code for the VAT.

• Sales of goods
• Triangulation
• Sales of services

Only used in the Intrastat report.

The default non-stock item for the VAT ID.

Only used in the AutoReport integration.

Only used in PEPPOL export/import.

AE

Vat Reverse Charge Code specifying that the standard VAT rate is levied from the invoice.

E

Exempt from Tax Code specifying that taxes are not applicable.

G

Free export item, VAT not charged Code specifying that the item is free export and taxes are not charged.

K

VAT exempt for EEA intra-community supply of goods and services A tax category code indicating the item is VAT exempt due to an intra-community supply in the European Economic Area.

L

the Canary Islands general indirect tax The Impuesto General Indirecto Canario (IGIC) is an indirect tax levied on goods and services supplied in the Canary Islands (Spain) by traders and professionals, as well as on import of goods.

M

The Impuesto General Indirecto Canario (IGIC) is an indirect tax levied on goods and services supplied in the Canary Islands (Spain) by traders and professionals, as well as on import of goods. The Impuesto sobre la Producción, los Servicios y la Importación (IPSI) is an indirect municipal tax, levied on the production, processing and import of all kinds of movable tangible property, the supply of services and the transfer of immovable property located in the cities of Ceuta and Melilla.

O

Services outside the scope of tax Code specifying that taxes are not applicable to the services.

S

Standard rate Code specifying the standard rate.

Z

Zero-rated goods Code specifying that the goods are at a zero rate.

The VAT type to be used in Visma XML files when exporting to AutoInvoice.

Only available for VAT type VAT.

The liability account that accumulates the VAT amounts to be paid to a tax agency for the VAT reporting period.

By default, the account is associated with the tax agency but can be overwritten.

Mandatory for all VAT types.

The corresponding VAT payable subaccount.

This check box is available only if the Subaccounts check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Mandatory for all VAT types.

The account that accumulates the VAT amounts to be claimed from the tax agency for the VAT reporting period.

By default, the account is the one associated with the tax agency, but the default account can be overwritten.

Only available for VAT type VAT.

The corresponding tax claimable subaccount.

This check box is available only if the Subaccounts check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT.

A check box that indicates (if selected) that the VAT expense account field (and the VAT expense subaccount field, if applicable) is available for editing. In these fields, you specify the expense account (and subaccount, if applicable) to which the system will record the non-deductible VAT amounts.

If this check box is cleared, the VAT expense account field (and the VAT expense subaccount field, if applicable) is not available, and the non-deductible VAT amounts are recorded by the system to the expense account specified in the document.

This check box is available only if the Partially deductible VAT check box is selected for a tax of the VAT type on the VAT settings tab.

Only available for VAT type VAT.

The expense account that is used to record either the VAT amounts of the Use VAT or the non-deductible VAT amounts of the deductible value-added tax.

For the deductible VAT, this field is available for editing only if the Use VAT expense account check box is selected.

Only available for VAT types: VAT and Use.

The corresponding expense subaccount.

This check box is available only if the Subaccounts check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT types: VAT and Use.

The liability account that accumulates the amount of taxes to be paid to a tax agency for the pending VAT.

Only available for VAT type VAT and when the Pending VAT check box is selected.

The corresponding tax payable pending subaccount.

This check box is available only if the Subaccounts check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT and when the Pending VAT check box is selected.

The account that accumulates VAT amounts to be claimed from the tax agency for the pending VAT.

Only available for VAT type VAT and when the Pending VAT check box is selected.

The corresponding VAT claimable pending subaccount.

This check box is available only if the Subaccounts check box is selected and enabled in the Enable/disable functionalities (CS100000) window.

Only available for VAT type VAT and when the Pending VAT check box is selected.

The date when the VAT at the rate in the current row becomes effective.

If the rate for the VAT changes in the future, add a row to this table and specify a start date for a new rate.

The VAT rate (%) that is used to calculate the amount deductible from the output VAT.

This column appears only if the Deductible VAT check box is selected for the VAT.

The minimum taxable amount for which this rate is applicable.

No minimum will be set if you type 0.

The maximum taxable amount for which this rate applies.

No maximum will be set if you type 0.

If both minimum and maximum amounts (greater than 0) are set, the maximum amount should be greater than the minimum amount.

The reporting group for the VAT.

The reporting groups available for selection are defined for the tax agency in the Reporting settings (TX205100) window.

If no tax agency is specified for the VAT, you can select from the default input or default output reporting groups.

The localised reports will follow the language of the document text from this window.

For example, the Finnish invoice form will take the language fi-FI from the document text.

The reports that are not localised will take the language from the Document language field on the General information tab in the Customers (AR303000) window.

The electronic text used when invoices are sent to AutoInvoice.

If this field is empty, the text in the Document text field will be used.