We have created a tax table for Swedish accounting that allows you to set up for reverse VAT. You now have 2 types of VAT codes:
- Standard: for normal VAT that goes to the Ingoing VAT account
- Reverse: for all purchases in need of reverse VAT. This VAT is added to two different VAT accounts that you can choose.
How to set up your Tax accounts
- Under Ingoing tax account number - you can chose your usual VAT account. This would most likely be either 2640 or 2641.
- In the tax code table, add all the standard VAT rates (0%, 6%, 12%, 25%). The Standard codes only let you edit the name and rate.
- Last but not least create a tax code for reverse VAT. Choose the correct rate, ingoing VAT account and outgoing VAT account.