FSB Member since 2002
Posts Tagged ‘VAT changes’
QuickBooks have released a new product update, R3. The main changes appear to be concerned with fixing errors in paying high earning directors and providing the new 20% Vat rate in new company files.
Over the next few days you should expect to see a request to install the update when you open up QuickBooks
As from Friday 1st December the UK VAT rate reverts to 17.5%. To help you change the rate of VAT in QuickBooks I have provided links to documents on the QuickBooks UK website that you can download and print off. These give you step-by-step instructions on how to change the rate of VAT.
There were two methods of changing the rate to 15.0%. The first took your standard VAT rate and changed it to 15.0%. The second method created a new temporary VAT code. Instructions for both methods are given below.
If you altered your standard VAT rate
If you changed your standard rate of VAT from 17.5% to 15.0% then you need to read these instructions
These instructions cover all versions of QuickBooks 2008, QuickBooks 2006 and SimpleStart.
If you created a new temporary rate of VAT
If you created a new temporary 15.0% rate of VAT you will need to revert to the old standard of 17.5% VAT. Read these instructions.
These instructions are for QuickBooks 2008 and QuickBooks 2006.
For an overview of the VAT changes
Read this article for a an overview of the changes.
Hope you find these links useful.