VAT defaults

VAT settings

Sales invoice products

By choosing the preferred option in the menu, determine if sales products’ unit prices include VAT or if VAT is added to the unit price.
By default, sales products’ unit prices don’t include VAT, and option Excl. VAT is selected in the menu.
This setting affects sales invoices’ Unit prices Incl. VAT setting i.e. whether the unit prices of invoice rows include VAT or not.

Purchase invoice products

By choosing the preferred option in the menu, determine if purchase products’ unit prices include VAT or if VAT is added to the unit price.
By default, purchase products’ unit prices include VAT, and option Incl. VAT is selected in the menu.
The setting affects purchase invoices’ Unit prices Incl. VAT setting i.e. whether the unit prices of invoice rows include VAT or not.

Default VAT %

Default VAT % used in the company can be determined by choosing the preferred option in the menu.
If default % is not determined, general default which is 25,5%, will be used as default.
Default % determined will be used on products added to sales and purchases’ product registers and also on product rows that are added to the invoices manually (and not from product register).
Default % will be used also in situations, where a purchase invoice is received as an electronic invoice or through scanning service, but VAT % can’t be interpreted from the invoice file, and there’s no default VAT % set up in supplier register.

VAT liability account

VAT liability account can be changed in Management > Accounting info > Posting defaults > Default postings for taxes.

Payment based value added tax

Payment based VAT handling can be taken into use (instead of using accrual based VAT handling) by clicking on Enable. History log button shows when payment based VAT has been enabled or disabled.
If the company is entitled to use payment based VAT handling, see instructions for implementing payment based VAT before enabling it.
Payment based VAT is not possible to choose in Solo product version.

The list includes all currently valid VAT percentages as well as the percentages used before January 1^st, 2013.
By default, all currently valid percentages are selected.
Percentages are selected separately for sales and purchases.
Receipts’ and registers’ VAT % menus include all percentages that have been enabled (selected) on VAT defaults view.
If the company doesn’t use certain percentage at all and it doesn’t need to be shown in the receipts’ and registers’ VAT % menus, the VAT percentage can be disabled (by removing the selection from it) on VAT defaults view. The percentage can be re-enabled later on if necessary (by selecting it).
Changes made to VAT percentage settings on VAT defaults view don’t affect receipts that have already been created nor the existing register products or business partners.

The list includes all VAT statuses that can be used in Procountor.
By default, all VAT statuses are selected, except for the ones related to VAT percentages that are no longer valid.
Some statuses can only be used on sales and some only on purchases, which is why these statuses can’t be enabled to both receipt types.
Receipts’ and registers’ VAT status menus include all statuses that have been enabled (selected) on VAT defaults view.
If the company doesn’t use certain VAT statuses at all and they don’t need to be shown in the receipts’ and registers’ VAT status menus, these VAT statuses can be disabled (by removing the selection from them) on VAT defaults view. The statuses can be re-enabled later on if necessary (by selecting them).
Changes made to VAT status settings on VAT defaults view don’t affect receipts that have already been created nor the existing register products or business partners.

VAT deduction right % affects how VAT is booked from purchase invoices and journal receipts on which VAT type is purchase. By default, deduction % is 100, but it can be changed if the company’s right to deduct VAT is restricted.
Percentage selected in VAT defaults is used as default on purchase invoices and journals (VAT type purchases). All percentages listed under Default VAT deduction right % are shown in VAT deduction % menu on invoices, journals and supplier register and can be chosen per invoice/journal/supplier instead of the default percent, if necessary.
Add button enables adding a new percentage to the list. By default, there are percentages 100 and 0 on the list. If a new percentage is added to the list, but is not set as default percentage, the original default percentage will continue to be used as default, but the new percentage will be shown (and can be selected) in Procountor’s VAT deduction % menus. If the added percentage is supposed to be used as default, it needs to be selected on VAT defaults view.
Delete button enables removing a percentage from the list, after which it will not be shown in Procountor’s VAT deduction % menus and can no longer be selected. Percentages 100 and 0 can’t be deleted.

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Default VAT percentages

Default VAT statuses

(VAT percentage update for 1.1.2013)

Update VAT percentages determined in registers to the ones that came into effect on January 1st, 2013.