Service/Expense
Adding new “Services”/ “Expenses”:
1- Unit Type:
You can either select the “Unit Type” from the list or add a new “Unit Type” by clicking on the (+) sign. After entering the new unit, click on “Save”. You can also view all units and delete or edit them from the “Manage Unit Types” page.
2- Taxes:
Select the added value upon adding the product, as Qoyod supports three types of VAT:
Zero VAT 0.0%
It means that the merchant pays the added tax on the primary commodities, it is not borne by the consumer.
0.0% VAT Exempt
It means that the merchant or consumer does not bear any tax expenses, as the good or service is not subject to tax, or the organization may not be registered in the tax system.
Value Added Tax 15.0%
It is an indirect tax imposed on all goods and services that are bought and sold by organizations at a rate of 15%.
3- Completion of service / expense data:
Services:
Services are not stored.
They can only be sold. Therefore, the “Selling Price” as well as the “Sales Account” should be specified.
They cannot be bought; therefore, they don’t have “Buying Price”.
Expenses:
Expenses are not stored.
They cannot be sold.
Select the “Buying Price” and the “Purchase Account” whether “Expenses” or “Fixed Asset”.
