Hi Fransisca Gouws,
You can create a new tax code so you can use the updated rate. But before doing so, I suggest reaching out to your accountant to verify if it's already implemented.
Here's how to add a new rate:
- In the Tax Centre, select Add Tax.
- Choose which type of tax rate you want to set up.
- Enter the details of your tax rate. If you need help with this screen, select the help button (yellow question mark).
- Click Done when finished.
Once a new rate has been created, you can deactivate the old one. You can follow the steps below to deactivate the old tax rate.
- In the Tax Centre, use the side arrows to find the tax you want to deactivate.
- Click on Edit tax in the top right corner
- Click on Edit rate
- Under Action, click Edit and then click Make inactive
If in case there's a need to add group tax, here's an article for detailed steps: How Do I set up Sales GST/VAT Rates And Use Them On Forms? (International QBO).
Post a reply below if you need further assistance. I'll always be right here to help.
