Other Questions

You’ll need to setup first VAT item for purchases in QuickBooks, jovelaquinde.

Here’s how:

1. Click Taxes from the left menu.
2. Select Add tax.
3. Click Custom tax.

• Tax name

• Tax agency name

• Registration number

• Start of current tax period

• Filing frequency

• Reporting method

     4. Select This tax is collected on purchases.

     5. Click Save.

Once done, you can use this item when creating an expense or a bill transaction. Also, you might want to check your accountant about recording VAT payments in QuickBooks.

 Stay around if you have other questions.