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Add VAT accounts

VAT accounts are the accounts on which you enter the VAT to be claimed and paid. If you are using a default configuration, these accounts are already present and you can skip this step. If not, you have to add the accounts.

Use a separate VAT account for each VAT code. You do not need to add any separate ledger accounts for VAT codes with the zero rate.

To add VAT accounts:

  1. Go to: Financial / Ledger / Ledger account.
  2. Click on: New.

    Fin_Btw-rekeningen toevoegen (10)

  3. Enter the account number that falls within the limits you recorded in the administration settings in Profit Financial.
  4. Enter a search name and a description.
  5. Select Assets in Type of account.
  6. Select VAT in Kind of account.
  7. Click on: Next.
  8. If applicable, link an account in Deviating balance sheet account.

    You use this field to show the balance from this VAT account on another account. This allows you, for example, to bundle all ledger accounts with Te vorderen btw onto a single account.

    Note: 

    If you want to see the closing balance of a VAT account on another account so each financial year starts off with a zero VAT account balance, enter the other account in the Deviating balance sheet account field.

  9. Click on Next several times and then click on Finish to complete the wizard.

Directly to

  1. Configure VAT/ICP
  2. VAT exemption
  3. Configure VAT and ICP declarations
  4. Add (or check) VAT accounts
  5. VAT rate groups and rates
  6. Add (or check) VAT codes
  7. Format (or check) VAT sections
  8. Set the VAT duty for a debtor/creditor
  9. VAT settings per item
  10. Configure VAT-transferred
  11. Configure automatic payment to the tax authority
  12. Configure a fiscal unit VAT declaration
  13. Configure the approval of the VAT declaration via OutSite
  14. Configure VAT declaration Luxembourg
  15. Configure turnover tax for the Netherlands Antilles
  16. Configure Aruba turnover tax (BBO and BAZV)
  17. Configure items for foreign VAT

Process

VAT/ICP declaration