Maintaining accurate bank information is crucial for VAT recovery. Ensure all necessary details are provided for each bank account, and monitor your bank details history to keep track of any changes made.

In the VAT4U system, you can also add multiple bank accounts linked to your company. This feature allows you to easily select a specific bank account for the refund process when creating a VAT claim. 

You can upload your bank information under Home company settings → Bank Info:

Uploading Bank Details

To upload your bank details, you will need to provide the following information:

• Internal Account Name: A friendly name to help you distinguish this account.
• Account Holder: The name of the individual or entity that holds the account.
• Account Holder Address: The address associated with the account holder.
• IBAN: The International Bank Account Number, which should be entered using digits only.
• Account Number: The specific account number associated with the bank account.
• BIC/SWIFT Code: The Bank Identifier Code or Society for Worldwide Interbank Financial Telecommunication code used for international transactions.
• Currency: The currency in which the account operates.
• Country: The country where the bank is located.
• Bank Name: The name of the bank.
• Bank Address: The address of the bank.

Are All Fields Obligatory?

While some fields are essential for processing claims, others may vary based on your specific requirements. It’s important to ensure that you provide full information to avoid any issues with claims in the future.

Bank Details History

Once you add a bank account, the system tracks the history of your entries. The following details are logged:

• Name: The name of the bank account.
• Created At: The date and time the account was added.
• Created By: The user who added the account.
• Replaced At: The date and time any updates were made to the account.
• Replaced By: The user who made any changes to the account.