UAE VAT - we invoice in GBP as main currency - but invoices need to show net and VAT in AED. How do I manage this?

I have been invoicing customers in GBP from our UAE company.  We now need to charge VAT and the VAT requirements mean each line item has to be entered in AED as does the VAT amount.  I have set up the account in QB online to have GBP as main currency not AED.  I also want our customers to pay us in GBP not AED.  How do I get around this issue?

Answer

Hi Accounts,

VAT reporting in QBO will be based on the home currency you’ve set up for your account. However, since you’ve enabled the multi-currency function, we can no longer change the home currency from GBP to AED.

For the feature of VAT per line item, this has been discussed and in the process to be implemented in QBO. However, there’s no update as to when. You may contact support and reference this INV-25221 if needed.

As a way around this, you may export the invoice to PDF and manually make the necessary amendments.

If you need further help, feel free to comment below.

Was this answer helpful? Yes No
Original
IntuitAngelo , Community Support Specialist
Employee SuperUser

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.