Have you updated the VAT estimate calculation and want to understand the result? Let's go through it. 👀
✨ Case 1: You have no VAT credit or your VAT credit is refunded by the state.
New: we now manage this case where the State reimburses your VAT credit. Ask for the activation of this alternative calculation to your Agicap interlocutor or on the chat. 💥
You will find 2 categories for your VAT forecast in your cash flow plan:
The category VAT Payment in Outflows will contain the VAT forecast to be disbursed at each due date, if you have more output VAT than input VAT.
Or if you have more input VAT than output VAT, you will find the calculated forecast in the category in VAT Refunds.
💡 With this calculation mode, by clicking on a VAT forecast, you can find more information about the source of this forecast in the side panel that will open on the right of the screen.
✨ Case 2: Your VAT credit is deducted from your next installments.
In your cashflow plan, you will find your VAT forecast, at the automatic disbursement category named VAT.
If you have more output VAT than input VAT, then the amount of your estimated VAT to be disbursed appears in the box of the corresponding period.
On the other side, if you have more input VAT than output VAT, and therefore a VAT credit, the boxes will remain empty in the VAT category. This VAT credit will automatically be deducted from the VAT to be disbursed on your next due date! ⏱
💡 From the advanced VAT settings, in the VAT Credit section, you can set your current VAT credit amount.
💡 Good to know: The VAT displayed on Agicap is automatically applied to your banking, committed invoices and forecast. Keep in mind that this is primarily an estimate of your potential VAT amount and not a calculation of your VAT to the nearest euro. 🤓