1 Financial Code Setup
There are two different approaches in using the Value-Added Tax (VAT) handling in the Excursion module and in both approaches, it is an inclusive VAT in the price, not an add-on VAT.
With the VAT Posting Split that caters up to four split %, and the amount of the tour price is posted as a VAT inclusive sum that is not reflected anywhere on the application, you can extract these splits onto a report.
Using the VAT Posting Split, you can break down the price of the excursion into components with the different price splits and tax rates.
VAT Tax Class
A VAT Tax Class is a tax classification used to identify the type of tax associated with the posting code.
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Log in to the Administration module.
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Select Financial Setup from the drop-down menu and VAT Tax Class.
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Right-click and select Add New.
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Enter the short code and the Tax Class name, for example, Reduced Tax in the Description field, and click Apply to save.
VAT Tax Rate
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From the Financial Setup, select VAT Tax Rate.
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Expand the tree view of the country listed and select the Tax Class.
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Associate the correct VAT Tax Posting Department to the code.
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Click Apply to save.
Posting Department
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Navigate to Financial Setup, Department Codes¸ Debit and create a sub-department for each of the various tax classes, if none are available.
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Under the Department VAT Tax section of Debit Department Code Setup, select the ‘Type of Posting ‘DX Tax Department’ from the drop-down list.
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Click OK to save.
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Navigate to the department for Excursion postings and assign VAT Tax Class to each of the different excursion sub-departments.
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Click OK to save.