My Business is not VAT registered, how should I label sales in Quickbooks
My business is not registered and sells electronics on Amazon. Should I label VAT on sales as being "20.0% S (Sales)" or should I label it as "No VAT (Sales)"?
My Business is not VAT registered, how should I label sales in Quickbooks
Hi billygreenway, if the business is not VAT registered and VAT has been enabled in QuickBooks, you can default this to 'No VAT' so that you do not select a VAT code when entering transactions. To do this, select the Cog > Account & settings > Advanced > Accounting > Default tax rate selection > No VAT.
My Business is not VAT registered, how should I label sales in Quickbooks
Hi billygreenway, if the business is not VAT registered and VAT has been enabled in QuickBooks, you can default this to 'No VAT' so that you do not select a VAT code when entering transactions. To do this, select the Cog > Account & settings > Advanced > Accounting > Default tax rate selection > No VAT.
My Business is not VAT registered, how should I label sales in Quickbooks
Thanks for getting back to me billygreenway, you can only charge VAT if your business is registered for VAT, typically, businesses who are not VAT registered would not activate VAT within QuickBooks - if you have any concerns or queries, please reach out to HMRC or your accountant for further advice. :folded_hands:
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
