Knowledge Base
-
Getting Started
- Install and Activate
- Turn on Manage Stock in WooCommerce
- Notes on Inventory Level Initialization
- For Fast Performance
- Multi-User Considerations
- Importing and Exporting Data
- Migration from ATUM
- Security
- Company Information
- Tax
- Foreign Currencies
- Loading Average Costs
- Serial/Lot Tracking
- Automatic Document Numbering
- Modify ApeksOPS to Suit Your Exact Needs
-
General Usage
-
The ApeksOPS Business Process
-
The ApeksOPS Dashboard
-
Tax
-
-
- Articles coming soon
-
- Articles coming soon
-
-
-
Customizing ApeksOPS
-
Import from Excel
-
View Consolidated Profits
< All Topics
Print
Summary of Steps to Set Up VAT
Posted
Updated
Bynathan
These are the basic steps you need to perform to set up for VAT:
- Add additional Tax Classes in the WooCommerce Tax Settings
- Set rates on the Standard Tax Class and the additional Tax Classes in WooCommerce Tax Settings
- For all relevant Products, set the Tax Class in the WooCommerce Edit Product page.
- Set the ApeksOPS default tax % in ApeksOPS > Settings. (To the prevailing VAT rate – e.g. 20%).
- When Suppliers are added, their default tax % will be automatically set to the ApeksOPS default tax %. If you have existing suppliers, set their tax % by going to ApeksOPS > Suppliers > Edit.
- At the end of each reporting period, use the WooCommerce Tax Reporting to determine VAT collected. Use ApeksOPS > Reports > Tax Report (Purchases) to determine purchasing data for your VAT reporting, including deductions for exempt items.
Table of Contents
