I've read the Common VAT codes but recently the codes offered in the QBO drop down list seem to differ. For example is Code E (0%) the same as Exempt? Is Code N (0%) the same as No VAT? Sometimes NO VAT is not offered as a choice.
Where can I find a glossary of VAT Code meanings that actually coincide with the VAT codes offered by QBO?
I must be missing something as up until recently, VAT coding seemed a lot more straightforward.