To correctly use the OSS (One-Stop Shop) functionality in Balabook, you must first create the appropriate VAT codes for the country where the transaction should be reported and ensure that the OSS option is enabled.
This setup is required so that sales are correctly included in the OSS Report and properly grouped by country for VAT reporting purposes.
How to Create VAT Codes for OSS
- Navigate to the bottom-left corner of the page and click your name, then select Company Settings.
- Go to the VAT section.
- Here you can view existing VAT codes or create new ones.
- Click New VAT Code in the top-right corner.
- Fill in the required information for the specific country you are creating the code for.
- Make sure to select the OSS option for the VAT code.
- Select the relevant boxes that define how the VAT code should be included in the OSS report (e.g. goods, services, or both depending on the transaction type).
- Save the VAT code.
Important Note
Each EU country that should be included in OSS reporting must have its own VAT code configured correctly. If the OSS option is not selected, transactions using that VAT code will not appear in the OSS Report.
It is also important to ensure that the correct boxes are selected during setup, as this determines how transactions are categorized and reported in the OSS declaration.
Incorrect configuration may result in missing or misclassified transactions in the OSS Report.
Disclaimer:
This content is provided for informational purposes only and does not constitute accounting, tax, or legal advice. For advice specific to your situation, please consult a qualified professional.
