How do I enter the VAT rates ?

Switzerland, like many other countries, has defined several VAT rates depending on the nature of the items sold: basic necessities, ordinary items, exports abroad, etc.

Each item sold is subject to a certain VAT rate and all VAT rates must be entered in the VAT rates file, accessible via the menu Others.

It may happen that VAT rates change due to political decisions. In such a case, it is imperative to create a new VAT rate file and not to modify an existing VAT rate file.

To create a new VAT rate record, call the Action>New command or click on the New button.

A VAT rate record contains the following fields:

• VAT code: a positive integer value. Once the form is validated, the code cannot be modified.
• Rate: VAT rate in %. Once the record is validated, the rate cannot be modified.
• Title: You can name the rate as you wish. This name, more explicit than a simple code number, will be used for the display and printing of certain documents.
• Purchase account: This is the link with the Accounts file. Indicate here the number of the asset account to which the amount corresponding to the VAT will be posted.
• Sales account: This is the link with the Accounts file. It is not obligatory to define the Sales account, although it is preferable. If this is not done, the VAT is incorporated into the sales price of each item.
• VAT code purchases OM Finance : fill in this field if you use Office Maker Finance for your accounting and the VAT code of the rate being entered differs from its equivalent in OM Finance.
• VAT code sales OM Finance : fill in this field if you are using Office Maker Finance for your accounting and the VAT code of the rate being entered differs from its equivalent in OM Finance.

Note : the Office Maker Finance software also manages the VAT rates. If you are using both programs to export entries from OM Business to OM Finance, we recommend that you use the same codes for the same rates in both programs. The easiest way to do this is to define the VAT rates in one software and then export them to the other using the "Standard" export-import format.