Configuring VAT rates

To create a VAT rate log into your back office and click on setup > VAT rates in the main menu. You are presented with a list of existing VAT rates.

Odyssey software create VAT rates

Click Add new rate. A popup window will apear.

VAT Description is the description of your VAT rate that will be displayed throughout the system.

Rate Percentage is the percentage of the rate to be charged as VAT.

VAT Type. There are 2 types of VAT types. Sales VAT is the VAT charged when selling an item and Purchase VAT is the VAT charged when ordering/purchasing new stock.

Click Save to create new vat rate.