how do I get started with vat

Answer

Hello there, jakkiwells,

You need to prepare your VAT registration number, Filing frequency, VAT scheme, and Current Filing Period to set up VAT/tax. Let's turn on the tax tracking feature so you can start recording your transactions.

Here's how: 

  1. Go to the Taxes menu, then select Set up tax.
  2. Set up the tax agency details such as the Agency name, Start of tax period, Filing frequency, Reporting method, Business ID No., VAT registration number, and VAT accounting scheme.
  3. Click Next.
  4. Select Got it.

Once done, you'll be able to view the Tax/GST column on your sales and purchases forms and now ready to record one.

Then, if you want to add and view your VAT/tax codes, you can refer to this article of the detailed steps: How do I set up sales GST/VAT rates and use them on forms? (International QBO) Video.

Please feel free to comment below if you have other concerns. I'll be glad to help.

Was this answer helpful? Yes No
Original
IntuitRea , 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.