taxomate allows you to either use our built-in tool (recommended) to calculate reverse charge and send to your accounting software OR map the proper VAT codes and have your accounting software do the calculations.

A. Simple Reverse Charge Tool

To enable the built-in Reverse Charge tool go to Settings > Account. Under Invoice Settings, you will be able to enable Reverse Charge and enter the % required.

Head over your your Mappings and select the Expense Types you would like to calculate reverse on.

Scroll down to the bottom of the page and select the Update Mappings button.

That's it! taxomate will now calculate reverse charge based on your settings and send to your accounting software. 

B. Enable Tax Code Mapping

*Tax Code Mapping can be used with our Simple Reverse Charge Tool*

On the Mappings page scroll to the bottom and select Enable Tax Code Mapping.

For each transaction type you will see a Selected Tax Rate option.

Select the proper VAT Code for each transaction type. 

Scroll down to the bottom of the page and select the Update Mappings button.

Please Note: Selecting the proper VAT Code often depends on the jurisdiction of the sale and business. taxomate cannot provide guidance on which VAT code to select. Please contact an accountant if you are at all confused or need guidance. 

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