Companies that have to make VAT/Sales tax declarations in Switzerland and the EU must keep two accounting files.
- One main file for Switzerland/Liechtenstein with all accounting transactions.
More information under Swiss VAT management
- Purchases and sales in Europe must be registered with the VAT codes for export or import.
- At the time of the periodic VAT calculation for the EU (with the auxiliary file), the VAT debt is also registered in this main accounting file using no VAT code.
- An auxiliary file for European VAT management
- The basic currency is EUR
- The chart of accounts corresponds to that of the main file (this allows you to copy and paste records).
- VAT/Sales tax table with the VAT codes and rates necessary for your own situation in Europe.
When doing business with only a single nation, the VAT/Sales tax table for that nation and the automatic VAT accounting scripts can be used.
See our web pages: Germany, Austria, Italy, Holland and our webpages with templates for various other nations.
- Enter the appropriate amount and VAT code in the transactions
- For the periodic VAT declaration in the EU, use the VAT/Sales tax report command (Reports Menu; Account1 menu in the old version) and total the amounts as necessary on the VAT form of the European nation in which the VAT declaration is made.
Please consult your tax advisor to ensure that this solution meets all the specific requirements of the tax authority in the EU