ITEMIZED VAT

Hi kkkkkkkkkkk,

Thanks for your post. It's not possible to add custom columns to this part of the invoice, however, you can add a VAT summary to the invoice which will give a breakdown per VAT code of the total VAT amount and NET amount. 

To enable this, go to the Cogwheel > Custom Form Styles > Edit > Content > Select the footer of the invoice template > Tick 'VAT summary' > Done.

For any additional options or product requests, please submit feedback by going to the Cogwheel > Feedback within your account.

NOT SATISFIED...

IS THERE A WAY TO ADD AMOUNT INSTEAD OF VAT% ? LIKE IF IT SHOWS

20%S INSTEAD IT SHOULD SHOW THE AMOUNT... HELP NEEDED...

Hello there, kkkkkkkkkkk.

We can create an item and name it as a sales tax. Here's how:

1. Click the Gear icon in the upper-right corner and select Products and services.
2. Click the New button and select Non-inventory or Service.
3. Name the item as a sales tax item you want to it be called.
4. Select the sales tax account in the Income account field.
5. Click Save and close.

With this, I'd recommend reaching out to your accountant. They'll be able to verify whether we're doing the correct process. They can also share other possible options to achieve what you want.

After creating the item, we can manually add it on the invoice and enter the amount.

Feel free to drop by if you need anything else so we can further assist you. Have a great day!

I was thinking about this as I am an accountant. I can create manual St 20%(tax liability) account then link it with non inventory item as mentioned by you but in this way i will face two problems.

1. How will it be linked to my VAT ? the one we see in VAT Liability report and is used when we want to submit VAT.

2. In order to add non inventory item and inventory item in invoice or purchase order,  I have to select no VAT as otherwise it will by default add VAT to all line items (inventory and non inventory).

PLEASE HELP.

Hi kkkkkkkkkkk, 

The non-inventory item would not be linked to your VAT, to link VAT to your return you will need to use the applicable VAT code on the transaction line, therefore this solution would only calculate a % of the total amount you enter as VAT. 

Currently there is no way to show the VAT as an amount rather than % per line, if you require this information on the invoice you would need to enter this on the description field.We're always looking for ways to improve our products based on customer needs and again would encourage you to leave feedback for this. Thanks!

As said by you

"the non-inventory item would not be linked to your VAT, to link VAT to your return you will need to use the applicable VAT code on the transaction line"

Now please listen:

For Sales:

1. i created a Tax liability account and linked it to sub ledger (VAT Control).

2. I linked my sales income account to that Tax liability account created manually (ST20%) so that all sales tax related transaction go there.

3. when i open my Tax liability report I see this amount on that report.

Now for Purchases:

1. I created a non stock inventory account as suggested by you.

2. i have to linked it with a purchase account as it wont let me save it without it.

3. While making entries I see it is taking this account as an item or quantity and not as tax liability as done in Invoices.

PLEASE PROVIDE SOLUTION FOR THIS SO THAT I CAN BE SATISFIED FROM BOTH END AND CAN MANUALLY ENTER THE % IN AMOUNT SO THAT I CAN GIVE THAT TO MY CUSTOMERS AND SUPPLIERS. FOR PURCHASES AND BILLS I AM FACING THIS ISSUE.

Hi kkkkkkkkkkk, 

Creating a non-stock item is not something I would suggest, we would again advise contacting an accounting professional to ensure this is recorded correctly, as we are only able to advise on how the VAT is designed to work within QuickBooks. 

Thanks

one should know.

highly disatisfied

Hello Kkkkkkkkk, 

We are not accounting professionals, we only support for Quickbooks in the way it is designed to be used. 

Well Quickbooks seems to be designed to be as user unfriendly as possible then. It is stupid to assume that VAT can ALWAYS be calculated automatically and precisely match scenarios where VAT is handled externally. One very common scenario is Amazon who calculat eVAT which will not always precisely match because of rounding errors and refusing to provide a check on totaled amounts of VAT per line item just makes using Quickbooks unnecessarily laborious and time consuming. There are plenty of other examples.

Given the decades the software has been in development it really is beyond the pale that these niggles that are so time consuming have not been ironed out.

Much more money needed to develop this skeloton program.