Help articles

Income

When adding sales invoices and credit notes under Income, keep in mind:

• Customer information: company or individual, VAT number, and country

• Invoice information: invoice date, VAT, amounts, and VAT rates
  For example: Co-contractor, IC goods, IC services…

Expenditure

When adding expenses such as purchase invoices and credit notes via Fast input:

• Supplier information: VAT number and country

• Expenditure category: assigning the correct category is crucial for the invoice to be correctly included in the VAT return!

• VAT deductibility according to the category (see VAT Returns – Expenditure categories) and adjustable per invoice

• Professional use according to the category (see VAT Returns – Expenditure categories) and adjustable per invoice

• Invoice information: invoice date, VAT, amounts, and VAT rates
  For example: Co-contractor, IC goods, IC services…

When you click the ‘eye’ icon next to the category, you can see the type, VAT deductibility, and professional use percentage linked to that category.

These percentages are suggested by Billit but may vary depending on your specific situation. You can adjust the VAT deductibility and professional use percentages per invoice (not per order line) after selecting a category.

If you want to save these percentages for a specific category, check Save VAT deductibility and mixed-use percentages in the expenditure category.

After saving the purchase invoice in Fast input, the selected expenditure category will be remembered per supplier.

For receipts:

• Cost type

• Total amount (always including VAT)

Once at least one receipt has been processed, a supplier is created per cost type, for example “Restaurant.” You can then adjust the default expenditure categories per supplier.