To update VAT rates individually for each service is a time consuming operation. Performing such operations in batches prevents the loss of time and decreases the error rate. To update VAT defaults in batch, VAT Updates for Services option located in the Operations menu of the Sales and Distribution module is used. The services to be included in the update, and the update method are specified in VAT Updates for Service Sales filter window. The filter options are as follows:
Filter | Value |
|---|---|
Service Code | Group / Range |
Service Description | Group / Range |
Service Aux. Code | Group / Range |
Service Auth. Code | Group / Range |
Service Group Code | Group / Range |
Present VAT Ratio (%) | equal to ...... |
Update Method | New Rate / Factor |
Update Factor (%) | equal to ...... |
Rounding Base | equal to ...... |
New VAT Rate (%) | equal to ...... |
VAT Type | Sales VAT / Return VAT |
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When Factor is selected instead, the new factor is entered into the Update Factor field. In this case, the update is performed by processing the Present VAT Ratio and the factor entered here.
Once VAT is updated, the VAT rates of the services matching the conditions set in the filter lines are updated with new VAT rates, and the new rates are automatically transferred into VAT Rate field of the service sales.
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