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SOC
Level 1
posted
‎April 13, 2020 04:09 AM
last updated ‎April 13, 2020 4:10 AM

Suddenly all bank transactions require VAT rate to be added

We are not VAT registered and never have been.  I'm not sure if there has been a software update but now when trying to add bank transactions it won't add them without me specifying a tax rate.

I've tried to set the default to No VAT as suggested in other posts but it has to keep being made the default if a transaction set hasn't been given the default before. This is really frustrating and wastes a lot of time.

 

Please help.

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1 Comment 1
JonpriL
Moderator
Moderator
‎April 13, 2020 06:50 AM

Suddenly all bank transactions require VAT rate to be added

I wish I could make it better, @SOC.

 

All transactions downloaded into QuickBooks depends on the information shared by your bank or financial institution. With this, I recommend getting in touch with them and update the mapping of your transactions. This way, your transactions will be downloaded with no VAT rate assigned so you can easily categorise them.

 

In addition, here's an article you can read to learn more about how you can categorise your transactions: Match and categorize bank transactions in QuickBooks Online.

 

Lastly, I've got you this helpful article in case you need some ideas about how you can easily categorise your transactions: How to set and use banking rules for downloaded transactions?

 

You can always leave a comment below if you have any other questions. I'll be always around ready to help.

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