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Lynn31
Level 1

how do I show VAT at 12.5 when inputing deposits. uk

 
5 REPLIES 5
TaliaI
QuickBooks Team

how do I show VAT at 12.5 when inputing deposits. uk

Hi Lynn

 

Is the 12.5 VAT rate your FRS rate?

 

We look forward to hearing from you.

 

Talia

Lynn31
Level 1

how do I show VAT at 12.5 when inputing deposits. uk

yes

 

Lynn31
Level 1

how do I show VAT at 12.5 when inputing deposits. uk

yes

Lynn31
Level 1

how do I show VAT at 12.5 when inputing deposits. uk

yes.

are you still there

Amanda G
QuickBooks Team

how do I show VAT at 12.5 when inputing deposits. uk

Hello Lynn31,

 

You can do this by putting your percentage on when you put in your VAT settings that you use the FRS scheme. It will ask what percentage you operate at.

When you create transactions you will just use the 20%S code, it will then calculate the gain or loss at your FRS rate.

 

Thanks.

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