Transactions with VAT

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New Swiss VAT rates 2024

New VAT rates go into effect on 01.01.2024. Choose Banana Accounting Plus Advanced plan for a smooth transition.

Key benefits

  • Automatically import the new rates into the VAT Codes table.
  • Receive the VAT Statement in paper facsimile format or as an XML file ready for upload to AFC.
  • Dramatically reduce your work time with advanced built-in features.

With Banana Accounting 9

  • You CANNOT automatically import new 2024 VAT Codes; you can enter them manually. 
  • You CANNOT create the VAT Statement , but you can get the VAT Report from the Account1 menu command.

Choose Banana Accounting Plus - Advanced plan - get 1 month free!

Before entering transactions with VAT, we advise you to visit the Transactions page.

The most common way of entering a VAT transactions is to enter the gross amount (amount including VAT), then apply to it the appropriate VAT code, choosing it among the ones included in the VAT Codes table and according to your transaction type (Purchase, Sale, Discount, ...).

How to correct VAT transactions

If you see the mistake right away, you can just edit the transaction row; this is only possible if you haven't sent your VAT report yet and if there is no transactions lock.

If however your accounting file is locked or if you have already sent your VAT report, you cannot simply delete the wrong transaction, but you need to operate some cancellation-transaction and then re-enter the correct transaction.

In order to rectify VAT operation you need to:

  • make a new transaction by inverting the Debit and Credit accounts used in the wrong transaction
  • enter the same amount
  • enter the same VAT code but preceded by the minus sign (ex.: -V77)
  • enter a new transaction with the correct accounts, amount and VAT code

Depending on the entity of the mistake, you should consider informing your local VAT office; usually they ask you to download a specific form for correcting mistakes in the previous VAT period.

How to only enter the VAT amount

There are cases where only the VAT amount needs to be recorded, such as when you receive compensation from the car insurance.

You can proceed as follows:

  • Enter the date, document number and description in the appropriate columns.
  • In the Credit A/C column enter the account used to pay the VAT amount (the Debit A/C column remains empty).
  • In the Amount column enter the VAT amount to be paid.
  • In the VAT code column enter the VAT code I77-2 (the code that refers to 100% amount VAT).

Transactions with VAT amount only




This documentation is outdated

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