Thanks for joining the thread, @tj construction. I'll share some details about your concern.

The Flat Rate Scheme (FRS) is a way for small enterprises to file a VAT return. It's a different technique of calculating how much VAT to pay to HMRC each quarter.

Businesses keep the difference between the amount of VAT paid to HMRC and the amount of VAT paid by customers under this arrangement. The percentage you use is determined by the nature of your business.

To learn more about Flat Rate Scheme in QuickBooks Online (QBO), you can refer to this article.

Resources, video lessons, and ideas for managing your corporate files can be found on our Community Help Articles page. Please visit the website if you require additional information.

Post here again if have other QuickBooks-related queries. I'll be more than happy to provide assistance. Keep safe and enjoy the rest of the week!