Banana Accounting Plus is set up to manage the VAT according to the regulations of the Swiss Federal Tax Administration.
The templates with VAT have the VAT Codes table already set with the current VAT rates.
The program provides extensions to generate the facsimile of the VAT Report, for the Effective method and Flat tax rate method, and the Xml file for the online transmission of VAT data on the FTA platform.
Type of accounting
There are two types:
- On the issued invoices
It implies keeping a Clients and Suppliers register.
The costs and revenues, with the relative VAT code, are recorded when the invoice is issued and received.
More information is available on the page How to manage Supplier and Customers with VAT on turnover.
- On cash received
It is not mandatory to keep a Clients and Suppliers register, but if you wish to have one anyway, it is important to set it up with cost centers.
The costs and the revenues, with the relevant VAT code, are registered at the moment of collection or payment.
Further information can be found on the page Clients and suppliers with VAT, using the Cash principle.
To calculate the VAT amounts and generate the VAT report to be sent to the FTA, it is necessary to have costs and revenues in CHF base currency.
There are two methods of calculation:
- Effective method report
Provides for the deduction of the VAT paid on purchases (VAT due - recoverable VAT).
- Flat tax rate method
The VAT to be paid to the FTA is calculated according to the granted rates.
Does not provide for the deduction of VAT paid on purchases.
Electronic transmission of the VAT Report
With the new extensions of Banana Accounting, in addition to the VAT Report facsimile, it is possible to export the data in XML format to be transmitted to the online portal of the Federal Tax Administration (FTA).
In the Extensions menu there are:
All users that have versions prior to Banana Accounting 9, in order to use the electronic submission procedure, must update to the new version.
All VAT Reports can be saved in PDF format and securely archived.