This guide covers the operations of a non-VAT liable company in Netvisor. 

If the company is not VAT liable, the handling of VAT can be turned off in the basic accounting settings:

Please note that once the selection is made, it is only possible to enter transactions without value-added tax. If the company/association has even one value-added tax transaction per fiscal year, this selection should not be made. When the setting is enabled, the value-added tax field will not be available on the voucher: 

Note:
If vouchers have been recorded for the period with value-added tax or using a VAT identifier that appears on the value-added tax calculation, these details will still appear on the VAT calculation, and the voucher details should be manually corrected if necessary before the company is set as non-VAT liable.

If the company has not previously been VAT liable and later registers in the VAT register and the checkmark is removed from the "Company is not VAT liable" section in the basic accounting settings, it will also enable the editing of VAT for historical data, and the VAT column will appear on vouchers.

Tip:

For the chart of accounts, a VAT-exempt entity can set the default VAT identifiers for the accounting accounts they use to "-" No VAT handling", which reduces the need to edit the VAT identifier field on incoming purchase invoices:



This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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