Teamleader provides a standard selection of VAT rates, but it may be possible that you need to add additional rates.
The VAT rates available in your account by default are:
- CM (other EU member state)
- MC (contractor)
- EX (outside EU)
- VCMD (other EU member states-facilities)
To add additional rates, follow these steps:
- Navigate to Settings > Invoices > Preferences > Add VAT rate.
- Add a unique code, a percentage and a description
- The unique code is important to distinguish different VAT rates
- The percentage is the VAT rate
- The description will be displayed when you add a product to a quotation or an invoice, and choose the VAT rate
- The created VAT rate is added to the list of additional VAT rates under Settings > Invoices > Extra VAT rates.