HOW TO CREATE VAT IN QUICKBOOKS ENTERPRISE 2018

We recently bought QBE 2018 here in the Philippines.How do we set VAT in Sales Invoice ,Receipts and Items Receipts?

Answer

Hi there, lagbearing

Let’s set up VAT or sales tax in QuickBooks Desktop Enterprise 2018.

Before you start recording sales tax, you'll need to turn on this feature on the Preferences menu. Here's how:

  1. Go to the Edit menu at the top.
  2. Select Preferences.
  3. On the Preferences window, choose Sales Tax.
  4. Go to the Company Preferences tab.
  5. Select Yes to turn on sales tax.

Once done, you can now create a new sales tax item. Here's how:

  1. On the Company Preferences tab, click Add Sales Tax item.
  2. From the Type drop-down, choose Sales Tax Item.
  3. Enter your preferred name for the tax item on the Sales Tax Name field.
  4. On the Tax Rate (%) field, enter the specific rate for the item.
  5. On the Tax Agency field, type the name of the collecting agency. If the agency is not in the list yet, select Add New to set it up.
  6. Click OK.

I’ve added a screenshot below to serve as your visual guide. 

You can check out this article to learn more about setting up sales tax in QuickBooks Desktop.

After performing the steps above, you’ll be able to record VAT or sales tax on your invoice, receipts, items receipts, and other sales forms.

I’m here anytime you need further assistance. Thanks for choosing QuickBooks Desktop Enterprise 2018 as your accounting solution in the Philippines, lagbearing!

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