Vat

Here are the steps for enabling VAT, do transactions and create a new VAT code. To learn more, you can also watch this RADIX Online tutorial video:

VAT

For enabling VAT in Radix, first select the desired company.

1. Go to Utilities > Settings > Co. Configuration.

2. Company Configuration window will open. Click on Items tab here.

3. To enable VAT in Radix, tick on Enable Sales Tax option. Select other details such as:

Enable Item wise Sales Tax - Tick here to set item wise Sales tax.

Allow Change Sales Tax code in Line Item - Tick here to allow you to change or select another tax code during the transaction.

Owe Sales Tax - Tick on As of Invoice Date option, if you want to calculate VAT while creating the invoice. Tick on On Receipt of Payment option, if you want to calculate VAT during payment receipt entry.

4. Once done, click on Save button. VAT will get enabled in this company.

To enable VAT in Day-book Masters:

1. Go to Masters > Day-books.

2. Day-book entry form will open. In Name, press F4 key and select the day-book in which you want to enable VAT, from the list of options displayed.

3. After selecting the day-book, click on 2 Inventory tab and select details here such as:

Is VAT Applied - Tick here to apply VAT in this day-book.

Tax Code - To set a particular VAT for all transactions in this day-book, press F4 key and select the VAT code from the list of options displayed.

Should Ask Net Rate - Tick here to view VAT included rate field during the transaction.

Is Item wise VAT - Tick here to set item wise VAT.

Change Tax Code - Tick here to allow you to change VAT code in this day-book.

4. Once done, click on Save button. VAT will get enabled in this day-book.

To enable VAT in Item Masters:

1. Go to Masters > Items > Item Entry.

2. Item entry form will open. In Name, press F4 key and select the item in which you want to enable VAT, from the list of options displayed.

3. After selecting the item, in 1 General Info. tab, select details such as:

Tax - Press F4 key and select the tax code you want to set for this item, from the list of tax codes displayed.

4. Once done, click on Save button. VAT will get enabled in this item.

For Sales Invoice VAT Transaction:

1. Go to Transactions > Sales > Invoices.

2. 'Choose a day-book' form will open. Here, select the day-book in which you want to do Sales Invoice VAT transaction.

3. Selected day-book entry form will open. Enter details here such as:

Document No - Enter the document/invoice number here.

Date - Enter the date of Sales Invoice VAT transaction here.

Account - Press F4 key and select the desired party, from the list of options displayed.

Item - Press F4 key and select the desired item, from the list of options displayed.

Tax - Press F4 key and select the VAT code here from the list of options displayed.

Rate Per - Select the option on which you want to calculate the rate, from the list displayed.

PCS/CUT/MTS - Enter the quantity in the field you want.

Rate - Enter the rate of the item here.

Amount - Amount will be calculated directly as per Rate Per field. (Amount = PCS/CUT/MTS * Rate)

VAT- In Bill Terms section, VAT amount will be displayed according to the selected Tax Code and will be directly added to invoice amount.

Additional VAT - Here, you can enter additional VAT percentage or directly the Amount, if any.

You can enter the fields you want and leave rest of the fields blank and proceed.

4. Net Amount will be calculated. After entering all the details, click on Save button. Sales Invoice VAT transaction will be done.

To create a new VAT Code:

1. Go to Utilities > Settings > Tax Settings > VAT.

2. VAT window will open. Enter details here such as:

Name - Enter the name of the tax code you want to create.

Code - This field will be auto-generated by the software. However, if you want, you can change it.

Name - This field will be auto-generated by the software. However, if you want, you can add VAT description here.

Apply Date - Enter the date from which this VAT will be applicable.

Type - To add this VAT in all Sales day-books, select Output option. To add this VAT in all the Purchase day-books, select Input option, otherwise select Both option.

Item wise - Tick here to set item wise VAT.

Percentage - Enter the tax percentage here.

Ordinal - Here, you can set the order of this VAT Code in the bill-terms section in the day-book, during transaction. Ordinal starts from 0.

Additional VAT - Enter additional VAT here, if any.

Notes - Press F4 button and enter remarks/information here, if any.

Status - Always tick on this field, if you want this VAT code to be active.

You can enter the fields you want and leave rest of the fields blank and proceed.

3. After entering all the details, click on Save button. New VAT code will get created.

4. New button will be activated. To create another VAT code, click on New button and start again with step 2.