We purchase fairly small items from China, and they are now imposing 20% VAT. What is the correct code for entering the purchase in to QB?
Hi easttv, the guide is general and covers overseas sales/purchases (EC, RC and PVAT codes), if you're unsure which code to use from here we would recommend reaching out to an accounting professional or HMRC as we're unable to advise on the specific codes to use. We can advise how to enter the transactions but not on the codes themselves.
We purchase fairly small items from China, and they are now imposing 20% VAT. What is the correct code for entering the purchase in to QB?
Hello Easttv,
Welcome to the Community page,
If you are not sure on what VAT code you need to put this link will help you here. If you are still unsure then you need to speak to a qualified accountant who will be able to advise you one the correct VAT code to put down.
We purchase fairly small items from China, and they are now imposing 20% VAT. What is the correct code for entering the purchase in to QB?
Hi easttv, the guide is general and covers overseas sales/purchases (EC, RC and PVAT codes), if you're unsure which code to use from here we would recommend reaching out to an accounting professional or HMRC as we're unable to advise on the specific codes to use. We can advise how to enter the transactions but not on the codes themselves.
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