How to Update VAT Rates in Billing Software?
VAT rates change over time! Not too often, but still. And when they do change, it causes a lot of work for you and your employees. Uku is here to help you and remove manual work from your tasks!
To update the VAT rates for your contracts and products, please follow these 3 steps.
Create a client group. If just some of your customers are affected by the change, create a new client group that consists of the affected ones. See how to use client groups.
If you’ve integrated Uku with your accounting software, import the new VAT rates from your accounting system.
Choose Billing from the main menu and choose the Product
Import classificators
Update VAT rates in contracts and for products
NB! Before taking bulk actions, please test the update with a single test client by creating a test group and assigning the test client. This way, you can ensure everything goes to plan.
a. Choose Billing from the main menu and click on Tools.
b. If needed, select the client group you want to apply changes to
c. Choose the VAT rate you will update and the one you are replacing it with.
You may also type in the VAT values/rates. This is for users not importing their VAT rates from accounting software!
d. Select where you want to update the values: in products, master or client contracts or invoice drafts. Uku will not update already confirmed invoices.
e. Confirm your selection and wait for Uku to confirm your update. Uku will tell you how many products, templates or contracts were updated.
