In the "My Company" section, you can modify VAT settings, such as VAT modes and reporting methods.
- Click on your name.
- Then, click on "My Company."
- Navigate to the "VAT & UID" tab.
- The option "I have a VAT number" must be enabled.
- Here, you can select the default VAT rate for your sales and purchase invoices.
To Modify VAT Modes and Reporting Methods
- Click on "VAT Settings."
- Click "Edit" to allow modifications.
- To add a fiscal period, select "Add New" in the fiscal period selector. (Only next year's fiscal periods can be added.)
- In this section, you can modify the VAT mode and reporting method, as long as no accounting entries have been created in that fiscal period.
In Sequence ERP, it is not possible to change the VAT deduction mode or method for the current year if accounting entries have already been generated.
For this reason, even when clicking on the Edit button, the system does not allow selecting another mode or method.
In order to make this change for the current year, all accounting entries already generated would need to be deleted.
5. If you select Net Tax Liability, you must indicate the corresponding rate.
6. Finalize and save the changes to apply your new VAT configurations.
To modify accounting year dates, see the article How can I change the configuration of the financial year ?