You can configure the tax preferences of your customers and vendors in Zoho Books, which will be used while creating transactions for them. When you add contacts, you need to select an appropriate VAT treatment for them. To do so:
- Go to the Contacts module from the left sidebar.
- Click + New on the left sidebar.
- Enter the VAT details of your customer in the Other Details section.
In Zoho Books, you can configure the following tax information for your contacts:
|VAT Registered||Business is in Bahrain and is registered for VAT.|
|Non VAT Registered||Business is in Bahrain and is not registered for VAT.|
|GCC VAT Registered||Business is in any of the GCC member states except Bahrain and is registered for VAT in that member state.|
|GCC Non VAT Registered||Business is in any of the GCC member states except Bahrain and is not registered for VAT.|
|Non GCC||Business is not in any of the GCC member states.|
Tax Registration Number (TRN)
The TRN is a unique 15-digit number assigned to a VAT registered person in Bahrain.
It will be displayed on all the transactions once you enter it here.
Place of Supply
The place of supply is where a transaction is considered to have occurred for VAT purposes. It is determined differently for goods and for services.
For a contact in the GCC, the place of supply can be any one of the following member states:
- Saudi Arabia
- United Arab Emirates
Select the with currency with which you transact with your contact.
The tax treatment of your customers will affect your transactions in Zoho Books. Learn more.