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This topic covers how to change the VAT percentage.
Navigate into Main Menu > Setup > Accounting > VAT Types. Click Edit.
Change the percentage of the Standard VAT Type to the new % - in this case 15%. (See image below) All the new transactions will automatically assume the updated VAT %, whether they are created or copied from another transaction.
Note
Note
Only do this on the date that the VAT % will change.
Changing the VAT % on recurring Transactions
Changing the VAT % on recurring Transactions
The Report: VAT - Update Transactions can be used to View and change the VAT % on existing transactions - eg. Subscriptions, Templates, Costings or other recurring transactions. The Report filters by transaction date and only displays transactions where the VAT % is 14 or 15.
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