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, this is not reflected anywhere on the application. You can extract these splits onto a report.

Using the VAT Posting Split, the excursion price can be broken down 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.

To create,

  1. Log in to the Administration module.

  2. Select Financial Setup from the drop-down menu and VAT Tax Class.

  3. Right-click and select Add New.

  4. 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

  1. From the Financial Setup, select VAT Tax Rate.

  2. Expand the tree view of the country listed and select the Tax Class.

  3. Associate the correct VAT Tax Posting Department to the code.

  4. Click Apply to save.

Posting Department

  1. Navigate to Financial Setup, Department Codes¸ Debit and create a sub-department for each of the tax classes, if none are available.

  2. At the Type of Posting of Debit Department Code Setup form, select DX Tax Department from the drop-down list.

  3. Click OK to save.

  4. Navigate to the Department code for Excursion postings. Select the sub-department code that has tax and click Edit.

  5. At the Department VAT Tax field, assign the VAT Tax Class to each of the different excursion sub-departments.

  6. Click OK to save.