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NOTE: This help article refers to Easify Version 3 which is no longer supported.

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VAT Settings

Easify has full support for VAT and allows you to fully customise your VAT rates and settings should you so desire.

Note: Your country may have a different name for VAT such as "Tax" or "GST". These terms are interchangeable, wherever you see the word VAT you can substitute it for the correct name for Tax in your country. If you have configured your region within Easify, the correct name for Tax will appear throughout Easify. For more information about configuring Easify regional settings click here.


As standard Easify is configured with a default set of VAT rates, these should suffice for most small businesses but feel free to change them if you need to.

VAT Settings can be accessed via the Tools->VAT Settings menu item.



The VAT settings window lists all of the VAT rates that can be assigned to your products.




VAT Registration

At the top of the window is a tick box that is used to specify whether you are VAT registered. This will have been set automatically when you were first asked by easify whether you are VAT registered. If you de-register for VAT you can untick this box and Easify will revert to non VAT registered mode.

Equally, if you become VAT registered you can tick this box and Easify will switch to VAT registered mode.

When you tick the My company is VAT registered tick box, Easify will add the relevant VAT controls and columns wherever they are needed. Easify will also print VAT details on all your paperwork.


VAT Rates

Each VAT rate has a VAT Code and a description. You can either accept the default VAT rates, codes and descriptions that we have created or you are free to change these to suit your own way of working.

If you want to add a new VAT rate, simply type it into the blank row at the bottom of the list of VAT rates.

The Default VAT Rate drop down list allows you to specify which VAT rate you would like to automatically assign to new products that you add to Easify. 


Change in VAT Rates

When a VAT rate changes it is very easy to handle this in Easify. Say the government raises the standard rate of VAT from 17.5% to 20% all you need to do is open the Easify VAT Settings window, and change the standard VAT rate from 17.5 to 20 and click Ok. That's it.

Once you have changed a VAT rate, Easify will prompt you whenever you open an active order that has the old VAT rate on it as to whether you would like to adopt the new rate of VAT or stay with the old one for that order. This way you will be able to decide whether to invoice the order at the old VAT rate or the new depending on your accounting needs.


When a VAT rate changes your business will have the option of absorbing the VAT change and keeping your sell prices (gross prices) the same, or of passing the VAT change on to your customers.

Easify supports both scenarios and when a VAT rate changes you will be asked which action you would like to take.



If you would like Easify to keep your sell prices the same by adjusting your product margins then select the top option.

If you prefer to pass the VAT rate change onto your customers then select the bottom option.


International Settings
The screenshots above are shown with Easify Regional Settings set to United Kingdom. If you have chosen a different country then the word VAT will be replaced with the name of the Tax system that your country uses.

You will also need to edit the list of tax rates to match those that are used in your country.

 


 

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