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Quickbooks Online - EC Purchases @ 23%

  • 21-06-2017 2:00pm
    #1
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭


    Hi Folks,

    Just wondering if anyone is familiar with Quickbooks online and can help with the following query?

    Is it possible to set up a VAT code for EC Purchases @ 23%? I understand that Quickbooks online is primarily aimed at the UK market based on the default VAT codes that are in place. I have had no problems in setting up new VAT codes for Irish rates (23%, 13.5% + 9%) but when it comes to setting up an EC purchase code, I'm not having much joy. There is an EC code in the defaults but the rate it uses is 20% (Standard UK VAT rate) and the software won't allow me to edit this code.

    The only solution i can come up with is to record EC purchases at no VAT in a seperate purchase nominal and manually adjust for the VAT input & output credit in each VAT return. Any help with setting up the code would be greatly appreciated.

    Hcksaw.


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