VAT
Hello there, @Caslar.
I'm here to help guide you today so you'll be able to set up your taxes accordingly.
When setting up the Tax Agency, please ensure to select both This tax is collected on sales and This tax is collected on purchases under the Custom tax page. In this case, it's possible that the tax was set up incorrectly. To test if you haven't selected the purchases, you can create a new tax code, you must have the option for both Sales and Purchases. If your option is only for Sales, then the set up is incorrect, you may need to create a new tax agency if this is what happened.
To set up a tax agency correctly, you can follow these steps:
- Click on Taxes at the left pane.
- Select Add tax.
- Go to the Custom tax section.
- Fill in the required information.
- Put a check-mark on both This tax is collected on sales and This tax is collected on purchases.
- Click Save.
Once completed, you have now the option to select Sales or Purchases under the Tax rate page.
For your future and additional reference about VAT, you can check this article: https://quickbooks.intuit.com/community/VAT/Set-up-and-edit-VAT-settings-VAT-codes-and-VAT-rates/m-p....
Let me know if you have any other questions about the steps provided above. I'll always be here to help you.
