Setting Up a VAT Rate for a Category
To set up a VAT rate for a single category:
Go to the Settings and open the Categories section
Hover over the category and click on the three dots (…).
Click on Set up VAT.
Select the desired VAT rate from the list.
Adding a New VAT Rate
If the VAT rate you need is not in the predefined list:
After clicking Set up VAT, select Set up the VAT….
Define a new VAT value by entering the rate you need.
Removing a VAT Rate from a Category
To remove the VAT rate association from a category:
Hover over the category and click on the three dots (…).
Click on Set up VAT.
Select VAT not defined.
Defining VAT Rates for Multiple Categories
You can define VAT rates for multiple categories at once:
Tick the boxes ☑️ next to the categories you want to update.
Click on Batch actions.
Select Set up VAT and choose the desired VAT rate.
💡 Tips
Defining VAT rates on categories helps with accurate tax reporting and financial forecasting.
Remember that the default list of VAT rates depends on your company's culture.
VAT rates are included when you export transactions to Excel.
FAQ ❓
Can I add a custom VAT rate that's not in the predefined list?
Yes! If the predefined VAT rates don't match your requirements, you can add your own VAT rates by clicking on Set up the VAT… and defining a new VAT value.