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LDOLMAN96
Level 1

VAT Registration in multiple jurisdictions?

We as a business have used QuickBooks for the past 8 years.

 

We have always had a UK VAT Registration but now are in the process of obtaining a French VAT registration.

 

Am i correct to think that to manage this additional tax, i just need to 'Add a tax agency' and a 'tax' to the QuickBooks and create the relevant VAT rates?

 

The return itself will be filed via Avalara so i really just need a holdings space for the taxes which i believe this will bring me.

 

The point that i am confused is that every time i generate a FRENCH sales invoice with FRENCH VAT - I still get a breakdown of GBP VAT on the bottom of the invoice. Even though this VAT will be EUR?

 

Does my plan sound possible to you experienced QuickBooks users? Many thanks in advance 

3 REPLIES 3
emmam6
Moderator

VAT Registration in multiple jurisdictions?

Hello LDOLMAN96, We welcome other users to post their experience with French VAT registration and UK Quickbooks. We do need to add that it may be worth speaking to an accountant. We do have Global versions of Quickbooks including French Quickbooks which would give you what you require, we do appreciate you may not need/want a separate version of Quickbooks for this. However, if you set up a different tax agency for other codes as the UK Quickbooks is built for UK VAT it will show conversion if your home currency is GBP.

LDOLMAN96
Level 1

VAT Registration in multiple jurisdictions?

Hi Emma

 

Thanks for your response.

 

I have spoken with an accountant, it is not a question of VAT Advice, as we know the registration needs to take place, but more a question of the functionality of QuickBooks.

 

I understand that QuickBooks is built for UK VAT. However, if i set up a separate 'Tax Agency' and make this filings / reconciliations myself. Am i safe to say that this will be treated separately in the software and not have any negative impact on current UK registration? 

I presume this would just make a separate VAT control account and i manage things via there?

 

Kind regards

ChristieAnn
QuickBooks Team

VAT Registration in multiple jurisdictions?

I appreciate you for coming back to the thread and adding extra details about your concern. I'll be sharing details on how adding tax agency works in QuickBooks Online. Then, I'll ensure you can manage your VAT accurately.

 

Setting up a separate 'Tax Agency' and making this filing will be treated separately in the software and won't have any negative impact on current UK registration. Additionally, you can add a group rate to combine multiple taxes and make applying them to transactions easier. All taxes you include are calculated and charged at once but we track them separately for you.

 

You can click this article to see extra details: Set up and edit VAT settings, codes and rates.

 

Lastly, you may refer to this article to see different details on how QuickBooks Online automatically calculates VAT when you make a sale: Learn how QuickBooks Online calculates VAT.

 

Please don't hesitate to click the Reply button below if you have other concerns related to QuickBooks. I'm always around to help, LDOLMAN96. Have a great day!

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