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Welcome to the Community, @ian12.
Yes, QuickBooks can eliminate this extra step and automate your VAT rate selection every time you create an invoice. You can set this up under Products and Services by following these simple steps:
1. Go to the Gear icon.
2. Select Products and Services.
3. To the right of the item or service, click on the Edit option.
4. On the Tax field, click the drop down button and select the desired VAT rate.
5. Click Save and close.
That should do it. Every time you select a product or service, with its VAT rate preset in the Products and Services, should have a default tax rate in your invoice.
This simple automation could save you time and help rid the possibility of a misselection of VAT rate.
Here's a good article that could help you Set up and edit VAT settings, VAT codes and VAT rates . This enables you to make corrections to your VAT registration numbers, make changes to your filing frequency, amend your VAT accounting scheme and more.
Should you have further questions, just drop a comment below. I'd be glad to help.
Thanks for your response.
Hi ian12
The steps already provided are in relation to products you have already created products, therefore you will have to edit the product to enter a VAT code which will populate when you choose that product in the future.
When you refer to enter a product manually you mean create the product you will simply add the VAT code to the product at the time of creation, is that what you are referring to?
I charge 20% VAT for all sales. I would like the VAT box to self populate with 20% when I enter a product description manually. This does not appear to be possible. I always have to manually select the VAT from the drop down menu. Is that correct?
Hello ian12,
The VAT code will only automatically populate if you use the instructions above, and set up the product with a VAT code attached. Otherwise, you will need to manually select the code each time.
Thanks,
Talia
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