Add VAT duty and VAT code by project

You enter the VAT duty and preferred VAT code for a project if you want Profit to apply this VAT duty during entry of a purchase invoice on the project. This allows you to deviate from the VAT duty set for the creditor (the project executor) in case the project location deviates from the branch location of the creditor.

If you do not enter anything, then Profit will use the default configuration, i.e. the VAT duty of the creditor.

To add VAT duty and VAT code by project:

  1. Go to: Projects / Project / Project.
  2. Open the properties of the project.
  3. Go to the tab: VAT on purchases.
  4. Enter VAT duty if it is different from the VAT duty of the creditor for the project.

    Note:

    If you enter the Purchase within EU or Transferred from VAT duty here, then the creditor’s VAT number is required. In this case, check whether the VAT number has been entered for the creditor of the project, on the Creditor tab.

  5. Enter the Preferred VAT code.

    You can only complete this field if you have entered the VAT duty. You can only select a VAT code corresponding to the selected VAT duty.

    If you do not enter anything, then Profit copies the VAT code from the ledger account if you enter a purchase invoice on this project.

  6. Click on: Finish. 

Directly to

  1. Configure the carrying forward of purchase invoices with VAT duty by project
  2. Activate the VAT duty by project (purchase) functionality
  3. Authorise VAT duty by project
  4. Configure a purchase invoice entry layout
  5. Link an entry layout to a journal for VAT duty by project
  6. Set a ledger account for a project entry
  7. Add VAT duty and VAT code by project