What is required to make deductions for representation expenses?
Representation includes all deductible expenses incurred to promote the company’s business, for example in connection with a client meeting or a staff event. To be eligible for a deduction, the expense must have a direct connection to the company’s business activities.
How to handle representation VAT in Zevoy
A new category should be created for expenses with representation VAT (Hub → Settings → Categories).
When creating the category, enable 'Representation VAT' and set the necessary accounts. Accounts can be set in the Accounting page.
When a representation expense has been made, the user can set the category which has been enabled for representation VAT.
The user will be prompted to select the type of representation (internal or external)
They will also be able to add participants (The person that created the representation expense is automatically included in the list of attendees).
Admins & Bookkeepers can edit the set details before exporting to bookkeeping.
When exporting the expenses, either with file or integration, the necessary calculations and bookings will be made.
Note that representation VAT is only applicable to organizations registered in Sweden.