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

  1. Under Ingoing tax account number - you can chose your usual VAT account. This would most likely be either 2640 or 2641.
  2. 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. 
  3. Last but not least create a tax code for reverse VAT. Choose the correct rate, ingoing VAT account and outgoing VAT account.

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