Tax settings: how your choices change invoices and reports
How the tax options in Company Settings decide your invoice format, tax reports and filing calendar.
GodoERP is accounting software. It is not the BIR and it doesn't give tax or legal advice. Which tax setting applies to your business is for you and your accountant to decide. This article only explains what GodoERP does with the setting you choose.
Set your options in Administration › Settings › Company Settings.
| Setting | What GodoERP does | Where to look |
|---|---|---|
| VAT Registered | Invoices show VATable, zero-rated and exempt sales and the VAT amount. | Reports › VAT Returns (2550Q) |
| Non-VAT Registered | Invoices use the non-VAT format. A percentage tax worksheet is available. | Reports › Percentage Tax (2551Q) |
| 8% option | No percentage tax worksheet. Income tax amounts appear in the Filing Calendar. | BIR Filing Calendar |
| Exempt | Invoices show "EXEMPT". No tax worksheet. | Company Settings |
What happens automatically
- Output VAT from invoices and input VAT from bills and expenses are posted to their own accounts.
- Credit notes reduce your VATable sales.
- Unused input VAT is carried to the next quarter on the VAT worksheet.
- Rates come from your Company Settings, so keep them up to date.
Note: GodoERP prepares figures from your books. It does not file anything for you. Check forms, amounts and deadlines with your accountant or the BIR.
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