Separating VAT / Zero rated products on invoices

rst123 · ‎April 18, 2020

Hi,
I run a business in the UK selling on Ebay, amazon, Etsy and WooCommerce,

I recently became VAT registered,
I am really struggling with how to separate Standard and Zero rated products. I sell roughly 60% standard rated and 40% zero rated.
For example, when I download a report from eBay for March sales it will just show a summary, won't show any products that are vatable or zero rated... the only way I can separate them is to go through all the invoices and add it all up myself.
Does anybody know the right way to do this please? So I can see how much VAT I need to pay without having to add it up the old way!
Many thanks

JonpriL · ‎April 18, 2020

Hello there, @rst123!

The available reports you can pull up depends on how you record your sales transactions. If you have a record of them inside QuickBooks, you can pull up your VAT Liability report. This report will show you the amount of taxes you owed to the agency.

Go to Reports.
Scroll down the page to the Manage VAT category of your reports.
Click VAT Liability Report.

But if your sales transactions are recorded through your third-party seller, you'll have to contact their Technical Support so you can pull up a report already categorise with VAT or zero-rated products.

Lastly, here's a few articles you can read to learn more about your VAT and other related tasks: VAT for QuickBooks Online.

If there's anything else that I can help you with, please let me know in the comments down below. I'll be happy to help.

Topics

Training

Community

Resources

Separating VAT / Zero rated products on invoices

Separating VAT / Zero rated products on invoices

Need to get in touch?