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How do I add a VAT rate?

How do I add a VAT rate?

bexio automatically creates VAT rates for you when you create your bexio account. If you are missing a VAT rate that you need for an invoice or another sales receipt, you can create it yourself. 

In order to create your own tax rates, go to "Settings - All settings - Accounting - VAT tax rates". 

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You will see an overview of all existing VAT rates in bexio. You can then create a new VAT rate by clicking on the green button "Add tax rate".

Tip: Before you create a new VAT rate, please first check whether bexio has already created it for you, but it is not visible. This will save you the trouble of entering the VAT rate because all that you may have to do is activate an existing rate.

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You will then see the screen for creating new tax rates. Fill in the form fields from top to bottom so that bexio can make appropriate suggestions for you.

1. Visible

By default, "Visible" is active for all new VAT rates that you create. You can only use a tax rate in invoices and other sales receipts if it is visible.

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2. Valid period

The "Valid from" date is mandatory for each newly created VAT rate. Determine the start date when this VAT rate can start to be used. 

For example:
You create a new tax rate on January 30, 2018, but you also wish to apply it retroactively to invoices that were entered in 2017. In this case, enter January 2017 in the "Valid from" field.

At the time when you enter the VAT rate, in most cases you will not yet know when your VAT rate will expire. For this reason, the "Valid until" field is not mandatory and can thus be left blank. We recommend that you do not enter anything here until you know the expiration date when the VAT rate will cease to be valid.

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3. Code

You can determine the code for your VAT rate yourself. Important: You and your employees will know what the VAT rate is when you see the associated code on invoices and other sales receipts. 

There are different approaches to creating these codes. We at bexio use descriptive codes for our automatically generated VAT rates. This means that you can tell what percentage the VAT rate is and what type it is on the basis of the code.

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4. Type

Select the tax type that matches the VAT rate you want to create. An explanation of all of the types can be found in the article "Tax Types".

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5. Tax rate

Specify the tax rate that you want to see on your sales receipts. For example: You can set it as the tax rate that your customer will see on the invoice. You currently have the option of using the following tax rates:

For services that were performed before or on December 31, 2017
8.0%, 2.5%, 3.8%, 0%

For services that were performed on or after January 1, 2018
7.7%, 2.5%, 3.7%, 0%

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6. Form assignment (code)

Here you can specify where your postings should be entered on the official Swiss VAT form for the given VAT rate. Next to each field in the VAT form you will find a code, which must be entered here. If you are not sure where to find the postings for your VAT rate on your VAT form, ask your fiduciary or VAT expert. 

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7. Net tax rate 

If you have created a VAT rate for the "Net tax rate" or "Optimized net tax rate" types, an additional field "Net tax rate (%)" will appear at the bottom. Here you select your net tax rate from the list of ten officially approved net tax rates. If you cannot find your net tax rate in the list, then it means that you have set the "Valid from date" in such a way that the net tax rate that you are looking for is not valid. To enter net tax rates that were valid until December 31, 2017, you must select a "Valid from" date that is before this day. We recommend setting a "Valid from" date that is far in the past in the event that you have to subsequently enter past invoices. For a net tax rate that is valid from January 1, 2018, you can set a date from July 1, 2017. From this date on, the field for this net tax rate will then appear on the VAT form.

For more information on "Entering the net tax rate", see the article "How do I create another net tax rate?

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