We have some software which imports transactions into a journal entry in QuickBooks, but it has added a VAT code when historically we never added a VAT code as it wasn't relevant.
However, I want to remove the VAT code from the row entries of the journal but it does not seem possible to do this- can I edit it so the rows are blank in the VAT box?
Taxes must not be enabled in QuickBooks for the VAT codes not to show up when importing transactions, lkoups.
You can select Out of Scope on the Account and settings page. To do this, you can follow the steps below:
Once done, undo the import to QuickBooks Online (QBO) so it won't show the Vat code.
Another way is to set up a VAT code specific for Out of Scope so you'll be able to select this code upon creating a Journal Entry. To do this, you can follow the steps below:
After you've created the code, this will now show up on the VAT list that you can select in your Journal Entry.
Also, since you've already imported those transactions, I recommend undoing them and then set up the VAT code first. Then, reimport them this time with the option to select the correct code.
If in case you want to change your mind and use VAT rates on your sales form, you can read this article for additional inputs: How Do I Set Up Sales GST/VAT Rates And Use Them On Forms?
Keep me posted on the import process. I'll always be around if you need further assistance, just make sure to mention me here.
OK thank you. I have set up an out of scope VAT rate and set this to zero.
Can I not simply go back into my journals and change the VAT rate to this new OOS rate rather than reimporting the transactions? It would be much easier if I could do this rather than reimporting them.
You're welcome, @lkoups.
Yes, you can choose to edit those journal entries. You can use QuickBooks Online’s Advanced Search feature to view all the journal entries.
Looking forward to hearing from you if you have any other questions about editing your transactions. Keep safe and have a great rest of the day!