Table of Contents

VAT

Overview

VAT defines the settings related to Value Added Tax to set the VAT rate percent and payment term.

  1. Selecting Setting Table
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  2. Tables View
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Descriptions

Each table and columns are described below.

Key columns used for matching when looking up correct setting is marked (k).

VAT %

This table defines the VAT rate percent. It is possible to differentiate between legal Entities, datasets and accounts. FromDate is used when the rate has changed over time.

Columns:

  • Legal Entity (k)
    Legal Entity that are eligible for paying VAT.
  • Dataset (k)
    Dataset is one of 'Forecast' or 'Budget'. Valid in: img Planner 4 or earlier.
  • Account (k)
    Named group of accounts from Account dimension or individual accounts.
  • From Date (k)
    The date from which the value is valid from.
  • Value
    VAT percent value to be applied to the sales to calculate the VAT amount.
  • Comments
    Free text string to help document settings.

The table above shows that all Accounts under the Sales account group will have 25% VAT while the account 3015 will have 12,5%. Note that 3015 may also be part of Sales account group but will still get 12,5%.

VAT Due Term

This table defines the schedule for VAT payment.

Columns:

  • Legal Entity (k)
    Legal Entity that are eligible for paying VAT.
  • Dataset (k)
    Dataset is one of 'Forecast' or 'Budget'. Valid in: img Planner 4 or earlier.
  • From Date (k)
    The date from which the value is valid from.
  • Term1Start
    Date for the start of first term.
  • TermLength
    Number of months for each term.
  • Term1Due
    Due date for first term.
  • Comments
    Free text string to help document settings.

The table above shows that the first VAT term is defined to start 2016-01-01. The term length is 2 months. The VAT payment is due 2016-04-10. To sum it up, VAT is due every 2 months on 10th one month and 10 days after term end.

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