Let me help you with your sales tax concern, cbrits-fournews-.
If you are trying to edit a VAT rate in QuickBooks Online (QBO), we can update it to make sure you collect the right amount. Here's how:
- Go to VAT on the top menu.
- Select Edit VAT and tap Edit rates.
- Choose the rate you want to change in the tax rate table.
- Click Edit.
- In the Edit tax rate window, change the rate. You can also change the name if you like.
- Set the Effective date, if required, this will be the date from which the rate change will take effect.
- Press Save.
- Hit On or Off beside the tax rate you want to make active or inactive.
- To confirm your changes, tap Yes.
To know a few things you need to know before you edit a VAT rate, you can check out this article: Edit VAT rate in QuickBooks Online. If there is a tax rate you feel does not apply to you, just deactivate it. Once a rate has been created, the option to delete the rate is unavailable. Here's how to deactivate the rate:
- In the Tax Centre, use the side arrows to find the tax you want to deactivate.
- Tap Edit VAT in the top right corner.
- Select Edit rates.
- Choose the green toggle option.
- For custom rates, Under Action, click Edit and then click Make inactive.
For more tips and other resources, you may visit our page for managing your taxes in QuickBooks: Taxes.
Feel free to update us after recording the transaction. Also if you have additional questions about running reports, please add a reply below. I'd be happy to assist you further. Take care always.
