VAT, Tax, and Currency Settings

VAT, Tax, and Currency Settings

VAT, tax, and currency settings are an important configuration area that ensures the hotel's financial transactions are managed in compliance with legal regulations and provides multi-currency support for international guests. Correct configuration of these settings forms the foundation of invoice accuracy and accounting compliance.

VAT Rates

In the VAT rates section, the applicable tax rates in Turkey are defined. VAT is applied at eight percent for accommodation services, eight percent for food and beverage services, and eighteen percent for other services. The applicable VAT rate is assigned separately for each service item and automatically taken into account when generating invoices. In case of a legal change in VAT rates, the new rate is defined and an effective start date is set. The system automatically applies the new rate from the specified date, and past transactions are not affected.

Accommodation Tax

Accommodation tax is an additional tax applied on top of VAT. Additional obligations such as tourism tax or environmental cleaning tax imposed by municipalities are defined in this section. Accommodation tax can be calculated as a fixed nightly amount or as a certain percentage of the room rate. Tax exemption definitions can be made for exempt guest groups.

Automatic Exchange Rate Updates

Automatic exchange rate updates enable the system to pull current rates daily from the Central Bank of the Republic of Turkey or a designated source and reflect them in the system. Update time and source can be configured. A manual rate entry option is also available and can be used for special agreements. Exchange rate history is kept on record, and the rate at which past transactions were made can always be accessed.

Multi-Currency Support

Multi-currency support enables guests from different countries to transact in their own currency. Currencies defined in the system include Turkish Lira, US Dollar, Euro, British Pound, and other common currencies. Buying and selling rates are defined separately for each currency. The guest folio can be viewed in the desired currency, and invoices can be issued in a different currency.

Exchange Rate Difference Calculation

In foreign currency transactions, exchange rate differences are automatically calculated. The difference between the rate at the time of reservation and the rate at the time of payment is tracked by the system and reflected in accounting records. Exchange rate differences are automatically recorded as revenue or expense in the relevant account.

Tax Reports

Tax reports provide a detailed breakdown of VAT and other taxes collected during a specific period. These reports are used as reference when preparing the monthly VAT declaration. The tax report can be filtered by department, allowing each department's tax liability to be viewed separately.