Overview
If your business is VAT-registered, Panelque adjusts how costs and profits are calculated. Instead of using gross amounts, it uses net (ex-VAT) values throughout the app, giving you a more accurate picture of your actual margins.
Configuration
Go to Settings > VAT to configure your VAT settings.
VAT Registered
Toggle this on if your business is registered for VAT. When enabled:
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Profit calculations use net (ex-VAT) costs instead of gross amounts
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Expense summaries use the net amount where available, falling back to the full amount
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Linked VAT entries are excluded from totals to avoid double-counting
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The Analytics page uses net amounts for ad spend calculations
Default VAT Rate
Set your standard VAT rate (e.g. 23% for Poland, 20% for UK). This rate is pre-filled when adding costs and expenses, but you can override it per entry.
Prices Include VAT
Enable this if your product prices in Shopify already include VAT. When turned on, Panelque extracts the net price from your listed prices for revenue calculations.
This option only appears when VAT Registered is enabled.
How VAT Affects Calculations
Expenses
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Non-VAT shops - The full gross amount is used in summaries
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VAT-registered shops - The net amount is used when available, otherwise the full gross amount. Linked VAT entries (reverse charges) are excluded from totals
Order Profit
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Non-VAT shops - Inventory costs and extra costs use their full gross values
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VAT-registered shops - Inventory costs and extra costs use their net (ex-VAT) values
Analytics
Ad spend calculations on the Analytics page follow the same VAT logic as expenses, ensuring ROAS figures reflect your actual net spend.
Tips
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Set up VAT settings before entering expenses so all calculations are correct from the start
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When entering expenses, fill in both the gross amount and net amount for the most accurate tracking
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Use the bulk reverse charge feature in Expenses to create linked VAT entries for existing expenses