has there been any news when the QBO will be updated with the correct VAT codes or is this required to be done manually? I have guidance from Xero/Sage but nothing from QuickBooks yet.
I have been sent this link to amend the codes
Be careful and note there are a few errors in there (screenshot for standard purchases shows 0% however instructions rightly state -20%)
Also - be aware these changes will calculate your VAT correctly -- however your invoices will need a manual note and calculation to show how much VAT and that reverse VAT is applicable -- really not ideal to say the least!
Thanks for this, but I am right in saying this is just for the desktop version? I believe the online version QuickBooks will be releasing codes similar to the brexit codes released at the start of the year.
OK. Got to Lists and rt clicked an item to get to the entries and follow all the proceedures.
All worked fine for Sales when I did a dummy invoice.
For entering dummy bill I put £100 in amount due. Under Items I put in £100 into amount and chose CIS RC VAT code. This puts -£20 in VAT Total and £20 into Expenses and then says not in balance so will not register bill. Have I done something wrong. I need some help please.
You did nothing wrong. Since you're still unable to enter a purchase for DRC with the correct VAT codes and rates, I'd recommend contacting our Customer Care Support.
With their tools, one of our specialists can pull up the account on file and guide you on how you can finish recording the purchase completely. To do so:
Additionally, I've also included this reference for a compilation of articles you can use while working with us: Help Articles for QuickBooks Desktop.
If there's anything else that I can help you with, please let me know in the comments below. I'll be here to lend a hand.
There is no 'Contact us' to Click under help.
I repeat: I have gone through the 'guide' and followed all the instructions for the CIS 'update' for QB Desktop 21. Sales is fine but processing bills does not work. There is a discrepancy in the CIS Revers charge for Purchase Standard Item. Point for indicated -20% but screen grab indicates 0% under VAT Rate. Neither work. Just comes up with 'Not in balance' when I do a dummy bill.
I pay for support every month and would like somebody to contact me or give me a means to talk to someone. You have 7 days till this is a legal requirement and I need time to test. This is not acceptable from a company the size of QB. There should be a proper patch in place that works. Not sure how HMRC are going to react to 'my software doesn't work'. On a par with 'my dog ate my homework'. If Sage & Xero can do it why can't QB?
Hello Rem11, f we can ask you to call our desktop support on 08082349537 and they will be able to do a screen share and help make sure the codes are set up and work correctly for you/