A tax schedule that imposes taxes on every purchaser in a supply chain is called VAT. The VAT paid can later be deducted by those who are not end consumers. Billing value added taxes on shipped goods become more convenient using a downloadable template. The exact words with VAT are Value Added Tax. If you have questions such as “is VAT a word?” and “what is a VAT invoice?”, read on below to know more.
Adobe PDF, MS Word and Excel Tax Invoice Template – Step by Step Instructions
Step 1 – Download the forms in any of these formats – Adobe PDF (.pdf) or Microsoft Word (.doc).
Step 2 – On the top of the form, make sure the seller’s name and address are indicated as well as the date and invoice number on the right portion. Below this are the fields for registration numbers, email addresses, and phone number. It is also necessary to provide the contact name and client’s name. Also indicate where the payments should be sent.
Step 3 – The table provided requires the list of services involved along and their respective short description, hours worked, and hourly rate. The total due for every service should then be calculated. In order to come up with the grand total, add the VAT tax rate and the total due for each service.
Step 4 – The bottom of the page is for indicating the payment terms and due date. If necessary, you can also add special instructions.
Detailed Instructions on Excel Sales Tax Formula
Step 1 – Download the tax invoice format in Excel (.xls).
Step 2 – The top portion of the form is for entering company details such as name, address and the invoice number. The name and address of the customer as well as the invoice date should also be indicated below.
Step 3 – The table must consist of each type of good and its corresponding quantity, description, and price per unit. Determine the subtotal by multiplying the quantity by price for each good. Add the determined subtotal and the VAT rate to come up with the grand total payable by the client.
Step 4 – At the bottom, enter your VAT receipt number. If required, indicate the details on the company registration and where the payment should be sent to.