Set up the VAT duty and number for debtors and creditors

In the properties of the debtor/creditor, enter the VAT number and the VAT duty. You can use the VAT duty to indicate the kind of purchase or sales transaction and/or what needs to happen with the VAT. The most common VAT duty for Dutch contacts is Sales standard for debtors or Purchase standard for creditors.

Depending on the VAT duty, you can link certain VAT codes in a financial entry. In Profit Order management, Profit Projecten, Profit Subscriptions and the course administration, Profit uses this to automatically link the correct VAT code, depending on the VAT rate group of the item.

To determine debtor and creditor VAT settings:

1. Go to:
   • Financial / Debtor / Debtor.
   • Financial / Creditor / Creditor.
2. Open the properties of the debtor or creditor.
3. Go to the tab:
   • Debtor.
   • Creditor.

   

4. Select the VAT duty.
5. Enter the VAT Number.
6. Consult the conditions which the VAT number must meet if you get an error message.
7. If applicable, select the check box for the VAT listing if the debtor/creditor should be included in the VAT listing.

   Profit only shows this check box if you have an administration whose Legislative country is Belgium or Luxembourg and the Belgian functionality is activated.  

   Note: 

   You must complete the VAT duty, VAT Number and VAT listing fields for the debtor/creditor to make sure that the data appear in the VAT listing. You set the calculation basis for the customer listing in the Minimum calculation basis field on the VAT tab in the administration settings.

8. Click on: OK.