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Steven_ZA
Level 3

VAT adjustment tax

Hi,

 

When making a VAT adjustment it asks for a "Tax rate". What exactly should be selected here, since there shouldn't be VAT on a VAT adjustment? The two changes I'm making is increasing the following lines with adjustments:

 

  • VAT on Standard Rate Goods and Services - Block 4
  • Other Adjustments - Block 12

 

Also, why are the percentages shown invalid? South Africa's VAT rate is 15% and not 14%.

 

Thanks.

 

qb_vat_adj.png