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1234matt
Level 1

Vat tax was setup wrong with sales applicable only. Added a new correct tax code for sales and purchases. How can I batch apply changes to all sales transactions ?

Initial problem was that we werent able to apply tax on purchases. I set up a new custom tax with both tax applications now. But now it didnt apply it to previous transactions. Even if I name it the same and make old one inactive. I tried to apply tax in chart of accounts to no avail. Only option I see is to go into each sale and change every line item to the "new" tax. Then after that inactivate the old wrong one. ( I dont want my client to see those changes in invoices I already sent online) It would be great if I could reset the Vat Tax Centre. Also not sure what implications it has if I just carry on like that and add a new tax for purchase only as an expense. I dont really want different options in our tax drop downs.
1 Comment 1
Jen_D
Moderator

Vat tax was setup wrong with sales applicable only. Added a new correct tax code for sales and purchases. How can I batch apply changes to all sales transactions ?

Thanks for posting this VAT question in our QuickBooks support page, @1234matt.

 

I can share some insights about this concern. When you need to make changes on a sale, like tax rates, it will not automatically update all prior entries. This is because the tax rates might change the invoice amount, so you need to update each entry to correct the tax codes or rates.

 

I'll be adding a few related links about VAT in QBO:

 

 

For other questions about VAT or other QuickBooks concerns, visit us again. I am always here to help you out anytime. All the best.