I'm having a problem setting the Std 20% VAT code for sales invoices.
QuickBooks UKproblems setting VAT codes for sales invoices?
70
13003
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02/09/12 2:39am PST
Viewed by asker 02/17/12 4:14am PST
Viewed by asker 02/17/12 4:14am PST
4 Replies
Graceman
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AllStar UK
Advisory council of community power users within the UK.
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Advisory council of community power users.
Intuit Moderator
Mod/Co-mod
02/09/12 3:02am PST
Can you describe what is happening or not happening so we have a clsue as to what it might be. Remember its the Vat item that sets the rate not the code.
If this post was helpful or answers your question, please either mark the answer as Helpful or Solved. This will then close your topic). Otherwise, let us know if you have more questions.
02/12/12 5:12am PST
Thanks for reply; my problem is that I can't create a VAT "item" for the 20% VAT rate.
How can I set it up so that I can select it from a menu of VAT codes/reates? Thanks
Ed
02/12/12 10:27am PST
In Quick Books, goto Lists/VAT Code Lists. This brings up a dialog box containing ALL of the VAT codes currently available.
You should already have a code named 'S'. If when you right-click this item and select Edit VAT Code, another dialog box will be displayed. There should be two drop down boxes at the bottom of this dialog entitled VAT Item for Purchases and VAT Item for Sales. Each one will be pointed at a particular VAT Item which defines the rate to be applied and which VAT100 boxes the postings will go to. If the rates applicable to your installation are NOT 20%, then rather than edit these, you should create new VAT items and follow the instructions here.
02/17/12 4:14am PST
Latest post
Many thanks mollcons; have now set up a separate VAT item for the 20% rate.
