Set VAT rate

Which settings you can specify in a domain depends on the selected bundle (and any additional features added) and the role(s) you have as a user in the domain.

In Yuki, you can define a number of financial settings in a domain that will affect how Yuki works. These include available countries, associated currencies, Yuki's chart of accounts, VAT rates, etc. 

Correctly setting VAT rates is crucial for accurate financial administration and efficient tax remittance. This ensures that VAT amounts are automatically calculated, invoiced, and processed correctly for periodic VAT returns.

Permissions and roles

Changing or adding VAT rates can affect the entire accounting system. Therefore, this functionality is restricted. You can only manage VAT rates if you hold one of the following roles:

• Back office (in the domain)
• Management
• Financial administration
• External accountant.

Access to financial settings

All saved settings, such as VAT rates, are centralized within your domain and organized into logical categories.

To access these settings:

• click on the Settings icon in the navigation bar
• then, in the now-opened screen, in the Financial section click on VAT rates.

VAT rates overview

This screen shows an overview of all currently active VAT rates or all VAT rates.

For each VAT rate you will see for which type of document the rate is available, the (VAT type) description, the VAT type, the VAT rate, the status of the VAT rate (active or inactive) and from which date the VAT rate is valid.

TIP!

Entrepreneurs using the Yuki web service can see here which VAT type belongs to which VAT rate.

View VAT rate details

By clicking on > in front of the VAT rate line, you can view the details of the VAT rate and adjust it if required. You can also enter an end date for the VAT rate here.

Create VAT rate

To create a VAT rate in the domain, click on the New record button at the top left of your screen.

The following screen is opened:

Then enter the details of the new VAT rate.

Type

Select the correct type here. This determines whether the VAT rate can be used for a purchase or sales invoice.

Description

While recording a purchase or sales invoice, this description is displayed.

VAT rate

Enter the correct VAT percentage here.

Active

Specify whether this VAT rate should be active or inactive in the domain.

Start date

From this date, the VAT rate is valid.

End date

The VAT rate is valid until this date.

Then on click the Save button to add the VAT rate to the domain.