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How can I apply a VAT rate and custom labels to a supplier?

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Do you have a Smart, Premium, Essential, Business or Enterprise package? You can add the VAT rate and custom labels to your supplier when adding a new beneficiary.

You can also add this information on existing beneficiaries, or modify it, from your Supplier list.

Adding VAT rate and custom labels to your supplier saves you time by allowing you not to add it at every transaction.

You can therefore improve your financial management by categorizing your payment, and prepare your accounting work.

How does it work?

When issuing a transfer to a new beneficiary, you will be asked to add a VAT rate and a customized label to be applied.

Once your beneficiary is created, you can find him within your Supplier list and edit his information :

  1. Go to the Invoices section. Under Suppliers, click on Supplier list
  2. Find your supplier and click on it, a column will open on the right
  3. In the top right corner, click the pen to edit

For every supplier, get:

  • the number of transactions made,

  • the VAT rate applied to these transactions,

  • custom labels that you can assign.

Do you wonder who are the beneficiaries to which you did not add this information? Use the section filters to retrieve them.

 

How to add a VAT rate to a supplier?

To make it easier to add VAT rates to your expenses, you can add VAT rates directly to a given supplier.

  • Click on the row of the supplier to which you want to add a VAT rate.

  • Select the VAT rate to apply.

  • Click on the Edit button to apply your changes.

Once a VAT rate is applied to a supplier, all the future transfers sent to this supplier will automatically be tagged with the VAT rate. If you need, you can still adjust it at the transaction level.

 

✌️ Note: If you made a mistake while entering the rate or decide not to apply a VAT rate, select the option Do not apply an automatic VAT to this provider.

 

How to add a custom label to a supplier?

Similar to VAT rates, you can assign custom labels directly to a supplier.

Click on the supplier row. In the side panel, you will have two possibilities:

  • If you haven't defined any custom label yet, you can visit the custom labels menu and define your labels, thanks to our tutorial 👉 right here.

  • If you have defined at least one label, you can apply up to three labels to your supplier. You can still edit lists and labels by clicking on Modify in the three dots menu.

Click on the Edit button to apply your changes.

Access more information on custom labels in 👉 this article.