How to change VAT in FinCon

How to change VAT in FinCon

Step-by-Step Process

Step 1. Navigate to VAT Codes

  1. Log in with administrator rights.
  2. Navigate to Edit → Company Information.
  3. From here, navigate to Setup → General Ledger → VAT Codes.
  4. Open VAT Codes list.

Step 2. Update VAT Codes.

  1. Select the existing VAT code you want to update.
    1. If you prefer keeping an old record for historical data, select the option to Create a new VAT Code.
  2. Set the VAT Percentage to the new VAT you wish to use (e.g. 15.5%).
  3. Save changes.

Step 3. Apply updates

  1. Update the following to verify if they are using the new tax code:
    1. Inventory items tax codes
    2. Customer & Supplier accounts
    3. POS settings (if used)
  2. Print a test invoice to ensure the VAT is calculated correctly.

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