VAT Setup and Returns
Manage VAT registration, rates, and returns efficiently.
AkountFly supports VAT/GST for all supported countries, automatically applying rates to transactions in the AI Bank Transactions Center. The Tax Centre in More Tools helps you prepare your VAT return by grouping input and output tax for the current period in a filing-ready format.
Ensure your VAT registration status and rates are correctly set up in Settings under the Tax tab. The system will assist you in managing VAT returns seamlessly.
Step-by-step
- 1Access Tax Settings
Go to Settings in the sidebar and select the Tax tab to configure your VAT registration and rates.
- 2Review Transactions
Navigate to Transactions in the sidebar to see VAT applied to your bank transactions.
Use the GL picker to view top suggestions for categorising transactions. - 3Prepare VAT Return
Visit More Tools and open the Tax Centre to review and prepare your VAT return.
Ensure all transactions are accurately categorised for a smooth filing process.