Do you want to estimate and anticipate the amount of VAT to be paid at the end of the month?
On Agicap, it is possible and very simple! 💪
You just have to set the VAT rate associated to each of your categories, for cash inflows and cash outflows. You can either set a global VAT rate for a parent category or choose different rates for each subcategory.
🔹 Setting up the categories
To do this, go to the Categories tab (at the top in the blue banner), click on the 3 grey dots that appear on the right when you hover the mouse on the name of a category, then click on the gear wheel ⚙, and set the VAT rate 👍
If the receipts or disbursements in this category have different VAT rates, choose an average VAT rate, or the one that is least advantageous for you (the highest in case of receipts, the lowest in case of disbursements). Alternatively, you can also create subcategories and set a different VAT rate for each.
✨ Better to plan more and have a nice surprise at the end of the month than the other way around! ✨
The chosen VAT rate will be automatically applied to all your data: expected transactions, bank transactions and forecasts associated with the category.
🔹 Automatic calculation
Once all your categories have been set up and your data entered, all you have to do is update the VAT calculation by clicking on the update symbol 🔄 next to the VAT category on the cashflow plan.
💡 Good to know: Agicap also calculates the VAT credit 🎉 If there is a VAT credit, it will be automatically deducted from the VAT to be disbursed in the next month or semester!
💡💡 Good to know: Don't want to set up the automatic calculation of VAT targets? No worries, you can let us know and we will remove the corresponding category 👌