VAT/GST and tax related Categories

If you haven't already, you'll need to enable 'Use VAT/GST' within your Preferences.
You can find this option by navigating to File --> Preferences --> General
(or Moneydance --> Preferences --> General, on a Mac)

Then you'll need set the VAT/GST rate for each category.

You can do this when creating or editing each category within the Tools --> Categories menu.

You can also view and edit all VAT/GST rates through the Tools --> VAT/GST Settings menu.


This will display a table where you can enter the tax rates for each category, as well as the category to which the taxes will be assigned.


Once a category has been assigned a tax rate and tax category, any new transactions that are assigned that category will be split into two parts; the tax part, and the normal income/expense part.

The tax part of the transaction will be assigned to the tax category.

This splitting of transactions is subject to the "Apply VAT/GST" check box in the transaction editor remaining checked.

If you have a large number of transactions that have not been split you can use the Tools --> VAT/GST Transactions menu to display all of the transactions to which VAT/GST may apply (according to your settings), so that you can quickly set the rate or tax amount for each one.

This window will only display VAT/GST transactions for one account at a time, so you will need to repeat the process for each bank account, credit card, etc which has VAT spending.


You can also designate an income or expense category as “Tax Related.” This will make reporting easier at tax time, and is available as an option in the 'Income and Expense' and 'Detailed Income and Expense' reports.

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