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How to set up the Flat Rate VAT Scheme in QuickBooks Online
by Intuit•5• Updated 1 year ago
In this article, we'll explain how to set up your VAT Flat Rate Scheme (FRS) in QuickBooks Online, and how to make changes to transactions in a filed VAT period. We'll also show you how to make adjustments to your VAT return, so you can be sure you're getting the most out of the scheme.
To switch on the FRS in QuickBooks Online
There are a number of different ways to submit a VAT return in QuickBooks Online. The FRS is a popular method for small businesses. To switch on the FRS, follow these steps:
- Go to Taxes and select VAT (Take me there).
- Select Edit VAT, and then Edit settings.
- Tick the Flat Rate Scheme (FRS) box.
- Enter your flat rate percentage and your tax registration date.
- Select Save.
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