Is it possible to set up a reverse charging VAT code using Irish VAT rates?

Hello Usermaeve-Omalley, Are you using the UK or Irish product?

Hi, we are using a UK version, didnt know there was an Irish one.

Thank you for the response, @usermaeve-omalley.

I can provide information on setting up the reverse charge VAT code. 

Yes, we have QuickBooks Online (QBO) for Ireland. You can go to the following link and then click on Ireland to create an account: Choose your country.

When you set up VAT, QBO will automatically set up a list of common VAT codes for you like the reverse charge VAT code for products and services. You can go to the VAT Centre to set this up.

Here's how:

1. Go to the Taxes menu and then select Set up VAT.
2. On the Set up VAT page, provide all the information needed.
3. Select Save.

Check this article for more information on how to manage your VAT process, edit your VAT settings, codes and rates, and add additional tax rates, group rates, or custom tax: Set up and edit VAT settings, VAT codes, and VAT rates.

You can also refer to the following article about the common VAT codes and how to create a new VAT code.

I'm always here if you need more help with your vat codes. Let me know in the reply section below. Keep safe and enjoy the rest of the day!

Hi MaryJoyD,

Thank you for your response, unfortunately this does not seem to allow me to set up a reverse charges option.

I have been able to set up the other Irish rates fine but not a reverse charges basis.

Thanks,

Maeve

Hi John C. Thank you so much I will give that a go now, hopefully it'll do the trick. Appreciate the advice :)

Hi John C, 

Is that the correct set up?

Thanks,

Maeve

Hello Usermaeve-Omalley, That looks correct, the best t thing to do is a test transaction using that code and then check on the VAT return it shows as you would expect in the boxes and confirm with your accountant they are happy with that.

Hi EmmaM,

Thank you for the advice, when I post the invoice using the VAT group, it is taking 21% VAT so my supplier balance is higher than it should be and it is only showing up on the VAT report on the purchases side.

Any ideas or suggestions are greatly appreciated.

Thanks,

M

I appreciate your prompt reply and for clarification, @usermaeve-omalley.

In regards to this issue, I’d recommend reaching out to your accountant to further check the set-up of your Vat codes. This way, we can ensure the vat codes are properly recorded and avoid any issues moving forward.

However, if you’re using the Flat Rate Scheme for your vat codes, we recently received reports (INV-36974) that some users are having issues with their codes posting incorrectly on FRS. Rest assured our support team is working diligently to solve this as soon as possible.

For now, I recommend reaching out to them so they’ll add you to the list of affected users. This way, you’ll be notified via email once the issue is resolved. Here’s how to reach out to them in your QuickBooks Online (QBO) account:

1. Go to the (?) Help menu.
2. Type in Talk to a human.
3. Select Live chat (click the Live Chat again). 
4. Enter a brief discussion of your concern and click Let’s talk.
5. Then select Start a chat to get in touch with them.

You can also check this link for more details: QuickBooks Online Support.

Let me also add this article that you can read for future reference in submitting your return: Submit a VAT return in QuickBooks Online

I appreciate your patience as we’re working to fix this. In case you have any other questions or concerns managing your invoices, you can always get back to me in this thread. I’ll be around ready to back you up. Take care!