Invoice template with multiple VAT rates
Have you ever wondered whether you can include products or services with different VAT rates on the same invoice, without complex calculations? The simple answer is: yes, you can.
This might seem like a trivial detail, but different VAT rates for different items in the same invoice can cause a bit of a headache.
But there is a solution.
When you’re dealing with products or services that have different VAT rates, creating invoices using Word or Excel invoice templates might cause some confusion.
You’ll need to manually enter and calculate the VAT rate, VAT amount, and total for each of the items on your invoice. This process can easily fall prey to small mistakes that could potentially impact your business finances.
By using invoicing software like SumUp Invoices, you eliminate the chance of errors in your calculations for multiple VAT rates. You can select each items VAT rate and the system takes care of the rest by automatically completing the necessary calculations.
With online invoicing software, adding items with different VAT rates to the same invoice is no problem at all. In fact, it’s easier, faster and less risky than handling the calculations yourself.
SumUp Invoices offers an intuitive invoice template, in which you can easily select which VAT rate to apply for each item line.
You can then save the product with the VAT rate, so the next time you add it to an invoice, the VAT is automatically applied.
At the bottom of the invoice, you’ll then see the total VAT amounts for each VAT rate listed before being included in the total amount due.