VAT

This option is under the Accounting>Admin menu. It contains some required Vat control values, including Key, Description, Percentage, In/out tax, Key for Vat booking, Key for sales booking and if the Vat may be overwritten when registered to an account key.  Input fields marked with asterisk (*) are mandatory.  

Vat groups will be later connected to specific account keys.  Pre-defined Vat groups are given by system and usually you don’t need to change them.

Key
Key is the unique symbol for the VAT group. The tax key usually contains a letter and a incremental number, ''U'' stands for out tax and ''I'' stands for in tax.

Description
You can give a descriptive name that indicates the purpose of the VAT group.

Percentage
This field indicates the percentage number to be used for the VAT group.

In / Out tax
This field decides whether the VAT group should be in tax or out tax.

Key for VAT booking
This field indicates which account key should be used when the VAT group (I1, I2, etc.) is used for VAT booking. If  you have filled in the percentage field, you need to enter the account key here as well.

Key for sales booking
This field indicates which account key should be used when this VAT group is used for sales booking. If the VAT group is an out tax, it is mandatory to register account key here as well.

May overwrite
If you would like to allow the VAT percentage to be overwritten when making a transaction, you can check this option. Please not that a change of + 2kr. is always allowed for the purpose of rounding.