Thanks for getting back to us, RIAP.

Allow me to provide clarifications regarding assigning a VAT code to your transactions in QuickBooks Online.

The system will only allow you to track taxes on the expense, checking, and income accounts. However, utilizing the Accounts Payable or Accounts Receivable type of accounts isn't available.

To get your work done, you'll need to create an invoice or a bill in QuickBooks to have it taxed. 

For your reference, I'm also adding here some links about adding and removing the VAT rates or sales taxes on your forms in QBO:

• How do I set up sales GST/VAT rates and use them on forms?
• Applying Sales Tax to Transactions and Sales Forms

Keep me posted if you still have questions or concerns about bank transactions. I'm always here for you. Have a great day!