VAT

Using Coconut to record your VAT on transactions

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11 articles in this collection
Written by Russell Dias

How do I get started with VAT?

Head into your business profile to enable VAT on your account
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Written by Russell Dias
Updated over a week ago

What is the cash accounting basis?

The method adopts the approach that you will pay your VAT on the invoices that you have received rather than when they have been raised
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Written by Russell Dias
Updated over a week ago

What VAT rate scheme should I select?

You can choose between the Standard or Flat rate schemes
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Written by Russell Dias
Updated over a week ago

How do I apply VAT to a transaction?

Head into your transaction and follow the prompts to record VAT
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Written by Russell Dias
Updated over a week ago

How do the VAT rate suggestions work?

The VAT rates we apply to a transaction is primarily based on the Category that’s assigned to the transaction
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Written by Russell Dias
Updated over a week ago

What do the red dots on my transaction list mean?

These are transactions that need your attention
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Written by Russell Dias
Updated over a week ago

How do I add VAT to invoices?

We are currently working on supporting this
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Written by Russell Dias
Updated over a week ago

What do I do if my expense has multiple VAT rates on it?

You will need to manually input the exact amount of VAT paid
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Written by Russell Dias
Updated over a week ago

How do I select from a full list of VAT rates?

Head into your transaction and tap on the + icon after expanding the VAT rate selector for the relevant transaction
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Written by Russell Dias
Updated over a week ago

How do I do a VAT Return?

We’re are currently working on supporting VAT Returns
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Written by Russell Dias
Updated over a week ago

Do I need to save receipts when I claim VAT?

You will need to keep a record of your VAT receipts
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Written by Russell Dias
Updated over a week ago