|
With the ‘old’ standard VAT rate of 17.5% coming back into force on 1st January 2010 many companies will need to change the VAT code on QuickBooks. There are more details regarding the Standard Rate VAT changes on the HMRC Web site.
If you were using QuickBooks prior to December 2008 and you edited your existing VAT code then you can change your Standard Rate VAT back to 17.5%. by following the steps in this pdf (courtesy of Intuit). The pdf covers the steps required for QuickBooks Pro / Premier and SimpleStart. Simply click the link below to open the pdf.
IMPORTANT: Make a back-up of your data before you start any of these processes.
How to change your exisiting VAT rate in QuickBooks
If you were using QuickBooks prior to December 2008 and you created a new Standard VAT code, follow these instructions.
If you started using QuickBooks Pro or Premier after December 2008 then you can use either option mentioned above. There is a summary of the pros and cons of each method on the QuickBooks website. Instructions on how to create a new VAT code can be found here.
If you started using QuickBooks SimpleStart after December 2008 then you can only change your existing VAT code, so use the instructions in the pdf.
And don’t forget to update your memorised transactions! How to do this can be found here. For further support contact bright angels.
|
