Hello there, @Kdobbins. let me provide some guidance on setting up the VAT codes correctly for your Belgium subsidiary in QuickBooks.
You have the option to set up VAT in the Belgian version of QuickBooks through the Taxes menu. This way, you can automatically track your sales tax and ensure they're calculated accurately. Here's how:
- Go to the Taxes menu.
- Select Set up tax.
- Set up the tax agency details such as the name, registration number, reporting method, how often you file your tax, and whether this tax is meant for sales or purchases.
- Click Next.
- Follow the on-screen instructions, then select Done.
After that, you can add a tax rate from the Tax Center page. For the step-by-step guide, kindly check out this article: Set up sales GST/VAT rates and use them on forms. It also contains information about adding a group tax and how to deactivate one.
With regards the reverse charge you'll need a tax accountant to determine what VAT codes to use.
I'm also adding this article to further guide you in managing your VAT in QuickBooks: Tax for QBO. It contains topics about updating VAT and how to track tax adjustments to name a few.
In case you want to apply tax to your sales forms, you can check out this article for guidance: Applying Tax to transactions and sales forms.
Please let me know if you have any other questions or need further assistance with setting up the VAT codes. Have a nice day.
