vat help

[Aaron Mehl]

 As I mentioned VAT is essentially a sales tax (more or less)but my concern is the dialog box.Aaron
    On Thursday, January 21, 2021, 03:20:36 PM EST, Aaron Mehl <mehlzaidy770 at yahoo.com> wrote:  
 
  :( I read the docs, that is what confused me. I clicked one check box and and had no idea what to do, then I tried to find the other check box, but it disappeared, so I shut the whole edit account dialog.
As far as vat is concerned no I didn't go any further then trying the dialog in KMyMoney...Aaron
    On Thursday, January 21, 2021, 03:11:40 PM EST, Jack <ostroffjh at users.sourceforge.net> wrote:  
 
 On 2021.01.21 14:44, Aaron Mehl wrote:
> The user manual says:
> 
> You can turn an expense/income category into a VAT category, which  
> means that it receives all the splits that actually make up the VAT  
> payment towards the government. You can also enter a specific  
> percentage rate.
> 
> Categories can be assigned a VAT category, which allows KMyMoney to  
> split a transaction for a category into two parts, one for the  
> category and one for the VAT. Depending on the setting of the  
> gross/net amount switch, the amount you enter for the transaction is  
> the gross or net amount.
> 
> Example: In Germany, there are three VAT percentages (0%, 7%, and  
> 19%). So I have a main category "VAT paid" and three subcategories,  
> one for each percentage rate. I create these on both the income and  
> the expense sides so that I have six categories in total. For the  
> goods I buy, I select one of the above mentioned categories as the  
> "VAT category assignment".
> 
> When I buy goods, I enter them into a transaction. Let's assume I  
> have selected the gross amount entry method, once I enter the  
> category and amount, KMyMoney will recognize that there's a VAT  
> assignment and calculate the VAT part, create a second split with the  
> VAT account and VAT amount and reduce the category amount.
> The same applies to income categories but the other way around. Hope  
> that makes  
> sense.-----------------------------------------------------------------------------------------unfortunately  
> no...------------------------------------------------------------------------------------------I  
> have no idea what this means and in the edit account dialog what I do  
> for each of the two check boxes.
> I am assuming this is a sales tax?Aaron
> 
Did you do any research?  https://en.wikipedia.org/wiki/Value-added_tax
    
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