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QuickBooks Team

Re: VAT CODES on Bank deposits

Hi SarahM01,

 

You can select the No VAT (0% Purchases) code for your expenses and No VAT (0% Sales) on for your interest transactions.

 

In QuickBooks Online, all bank transactions will need to have a code when you add them to your books. You will not mess your VAT returns as long as you choose the right codes.

 

You can visit us back here if you have other questions in mind.