Set up taxes (VAT rates)

Before you start

Your company already has UAE VAT 5%. You pick it on the lines of invoices and bills, and SiaOne works out the VAT and posts it for you. You only need this screen to check the rate, or to add a different one such as a zero-rated tax.

Steps

1. Open Accounting > Configuration > Taxes.
2. Each tax has a Usage - Sales, Purchase, or Sales & Purchase - and a Rate. The Defaults column says whether SiaOne picks the tax by itself on new lines (Not default if it does not).
3. Sales Account and Purchase Account show where the tax is posted. For UAE VAT 5%, sales VAT goes to 2110 VAT Output and purchase VAT goes to 1310 VAT Input.
4. Click a tax to open it. Tax Details are on the left and Tax Setup summarises it at the bottom. Archive hides a tax you no longer use.
5. To add another rate, click New Tax. Type the Tax Name, choose the Usage, type the Rate %, and pick the Sales Account and Purchase Account. Tick Default Sales or Default Purchase if SiaOne should pick this tax automatically on new lines. Click Save.

What happens next

Choose the tax on the lines of your next customer invoice or vendor bill.