Define Your VAT Management Settings
To optimize your VAT calculations, set up specific parameters in the advanced settings:
VAT Payment Frequency: Choose whether your company pays VAT monthly or quarterly.
VAT Due Date:
Specify the exact day you pay VAT to the state.
This is crucial if your forecast input frequency in Agicap is Weekly or Daily.
For companies with a German or Dutch setup, you can enable the payment delay extension (e.g., "Dauerfristverlängerung" in Germany), allowing payment on month M+2 instead of M+1.
VAT Credit: If you have an existing VAT credit, input this amount to reflect it in your cash flow plan.
This helps adjust the VAT balance if you have credit decreasing your next VAT payment.
To access these settings when you are using automated VAT forecast without credit refund
Navigate to VAT tab in the app's advanced settings.
Input the necessary parameters according to your company's VAT payment structure.
To access these settings when you are using automated VAT forecast with credit refund
hover over the VAT refund or the VAT payment category and click on the gear
Input the necessary parameters according to your company's VAT payment structure
Handling Existing VAT Credits
If you have a VAT credit from before subscribing to Agicap and you use automated VAT forecast without credit refund:
Go to VAT settings tab
Enter the initial VAT credit amount.
Resetting the VAT credit to zero can help if there's a significant discrepancy between past VAT payments and Agicap's estimates.
Tips for Accurate VAT Calculation
Assign Correct VAT Values: Ensure you've correctly set VAT rates on all relevant categories.
Negative Amounts: Be aware that any cell in the cash flow plan with a negative amount is not considered in the automatic VAT calculation.
Forecast Input Level:
The forecast input level must match the level of the VAT category.
If you move a VAT category within the category tree, adjust the input level accordingly.
Parent categories may become unelectable (greyed out) if the VAT category is moved to a child category.
💡 Tip: Always refresh the computation from the button on the Cashflow plan page after making changes to ensure calculations are up-to-date.
Q&A ❓
What should I do if the VAT calculations in Agicap don't match my expectations?
First, refresh the computation on the Cashflow plan page. Ensure that VAT rates are correctly assigned to all categories. If discrepancies persist, reset the VAT credit in the advanced settings and verify all parameters.
How do I handle VAT payments due at the billing date rather than the payment date?
Agicap's automated VAT forecast currently doesn't cover VAT due at the billing date. As a workaround, manually enter this forecast or use key indicators to adjust your cash flow plan accordingly.