VAT Codes Fields Overview
VAT Code
The VAT code. Enter the VAT code in alphanumeric text without symbols or space.
Description
Description of the VAT code. Max. 100 character limit on this field
VAT Rate (%)
The VAT rate as a percentage.
Status
The status (Active or Inactive) of the VAT code. This field is based on the Effective Date.
Effective Date
Select the start date.
VAT Calculated Against
Select if the VAT rate applies to gross invoice amount (pre-retention) or net payment application amount (after-retention). Select from Net or Gross.
Code Type
Allows VAT codes to be grouped during the invoice assessment process. Choose from Standard and Self-Billing.
Last Published Wednesday, July 10, 2024