Finance

Notes

• The finance app expects the countries to be populated by an external source e.g. the magento app.

• The finance app has a management command, init_european_union_countries which can be run to set the European Union Countries who can use the Zero Rated EC VAT code (see the ZERO_RATE_EC_VAT_CODE constant in the VatCode model)

• We decided not to use the django-countries app. It seemed a little magical as countries are not added to the database. We built our own Country model which just does the simplest thing…

Vat Codes

From our finance app and VAT rates on different goods and services:

Code  Description         The way we use it...
====  ==================  ===================================================
E     Exempt              Foreign or Exempt
L     Legacy              For internal use on our old/legacy systems.
S     Standard
Z     Zero                Zero-rated goods and services
                          eg most food and children’s clothes
ZEU   EU Zero Rated       EU customers who are registered for VAT