It is quite easy to encode your general expenses and invoices within seconds but what about encoding your VAT payments or VAT reimbursements? There are actually several ways to do it which will be explained below.
Principles
All your VAT transactions (payments to Finanzamt or refunds from Finanzamt) must be encoded in the app (as expenses or revenue items).
At the end of the year, Accountable will compute automatically your yearly VAT return and EÜR based on VAT transactions you have encoded, so make sure the amounts are correct.
You can choose either of the following methods ways to encode your VAT payments. We hope that it is a smooth and easy experience for you.
1- From the Bank screen
Go to your bank screen
Click on the relevant transaction
Click on Classification by
Select 'Another Professional Payment' from the popped up menu
Now choose 'A tax payment/reimbursement'
From the next popped up menu select 'VAT Reimbursement
Choose whether you would like to do it Monthly, Quarterly or Yearly,
then choose the relevant VAT period
Your VAT due/prepaid will be encoded in the app
2- From the Expenses screen (VAT payment) or the Revenue screen (VAT reimbursement)
From mobile, create a new Expense or Revenue manually
Add "Finanzamt" as supplier/client. Category "For VAT payment" will automatically be added (select "VAT reimbursement" for revenue)
Input the amount, click save
The app will ask you to select the VAT period related to this transaction.
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3- From the Taxes screen
Go to your tax universe in your accountable mobile app or web version
Select your relevant VAT return
In the bottom of your screen, click on "mark as paid/received"