Creating VAT Rate Records

Overview

VAT rates records are used in strokeone when invoicing to ensure that billable items are charged at the correct level of VAT

About this Topic

This topic outlines the steps necessary to create VAT rate records that can be used within strokeone.

Prerequisites

Ensure that you have logged onto strokeone, and that you can see and access the Settings button in strokeone's home banner.

Procedure

1. From the home banner, click the Settings and then System Preferences buttons.
   
2. In the Preferences layout, ensure you click the Finance tab(1), and from within that, the VAT (2)tab.
   
   
3. Any existing VAT rate records are shown
   
4. Click on the new record icon (3) to add  VAT Rate record.
   
5. Populate the following fields:-
   

   Field	Comment
   ID	Automatically generated system reference.
   VAT Type	Enter the type of item that this VAT rate will be applicable to.
   VAT Rate	Enter the Percentage rate of VAT applicable for this product type.

6. The VAT rate record created is now available for usage in strokeone.

Related Topics

Settings Module

Invoicing Process