What do the VAT code letters mean?
I've read the Common VAT codes but recently the codes offered in the QBO drop down list seem to differ. For example is Code E (0%) the same as Exempt? Is Code N (0%) the same as No VAT? Sometimes NO VAT is not offered as a choice.
Where can I find a glossary of VAT Code meanings that actually coincide with the VAT codes offered by QBO?
I must be missing something as up until recently, VAT coding seemed a lot more straightforward.