First Previous - Page 1 of 1 - Next Last

Sage T9 Vat code equivalent in Quickbooks

  • Member PM.Dip
  • Practice Licence
  • 2 posts
  • # 115129

Hi All

I am new to Quickbooks having used Sage for the last 9 years and am struggling to find the VAT code for items such as dividends etc that should not appear anywhere on a VAT return, (T9 in Sage). Please can someone just let me know the equivalent code in Quickbooks? 

Thanks

Carol

2Cs Bookkeeping

  • Member PM.Dip
  • Practice Licence
  • 128 posts
  • # 115130

Hello Carol,

Either just leave the VAT categroy empty and don't enter any VAT amount or there should be a "No VAT" catergory.  What version of Quickbooks are you using?

 

Torben

  • Member PM.Dip
  • Practice Licence
  • 2 posts
  • # 115133

Hi Torben

 

It is Quickbooks online and I have found the No VAT code so thank you for your help.

 

Carol

  • Member PM.Dip
  • Practice Licence
  • 404 posts
  • # 115571

Carol C said:

Hi Torben

 

It is Quickbooks online and I have found the No VAT code so thank you for your help.

 

Carol


 Maybe this will help for the future:

 

20.0% S Standard (In QBO there are Sales and Purchases 20% S codes) Most goods and services
5.0% R Reduced Domestic fuel & power

 

Installation of energy saving materials

Residential conversions

0.0% Z Zero-Rated Most food

 

Books/ newspapers/ magazines

Children’s clothing

Public transport

Exempt Exempt from VAT Goods supplied by or purchased from a non VAT registered business (this is to ensure the purchase appears in the correct box on VAT 100)

 

Stamps and postage

Insurance and finance/ credit

Education and training

Subscriptions

Betting/ gaming/ lottery

20.0% ECG EC Goods Standard Intra EU B2B purchase of Goods

 

In B2B transactions, it is the customer who must account for any VAT due via the reverse charge mechanism (i.e. the customer must act as if they are both the supplier and the recipient of the goods).

20.0% ECS EC Services Standard Intra EU B2B purchase of Services
0.0% ECG/ECS EC Goods/ Services Zero-Rated Intra EU B2B sale of Goods/ Services

 

If the EU customer is not VAT-registered, then the applicable UK rate of VAT is charged.

20.0% RC Purchase Reverse Charge Extra EU Reverse Charge
0.0% RC Sales Reverse Charge Extra EU Reverse Charge
No VAT Outside the scope of VAT Local authority rates

 

Wages/ salaries

Donations to charity

Statutory fees e.g. MOT/ congestion charge/ fines

First Previous - Page 1 of 1 - Next Last
loading