In order to comply with VAT regulations in various countries, you may need to charge or pay VAT at different rates, depending on the Item in question. You also need to differentiate between domestic, EU and external trade. To address these issues, you should use the VAT Codes setting to define as many VAT Codes as you need, with different accounting specifications.

After defining your VAT Codes, you can then assign them to Customers, Suppliers, Items and also to individual Sales and Purchase Accounts. The VAT Codes ensure HansaWorld Enterprise will use the correct VAT percentages, post VAT to the correct Nominal Ledger Accounts and provide VAT statistics. The standard VAT Codes used in the UK are supplied with the program.

To edit the VAT Codes, double-click 'VAT Codes' in the 'Settings' list. The following window appears:

To edit a VAT Code, simply click in the field to be changed and overtype the existing entry. To add a new VAT Code record, scroll down to the first blank line.

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