VAT% Change

This topic covers how to change the VAT percentage.

  1. Navigate into Main Menu > Setup > Accounting > VAT Types. Click Edit.

  2. 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

Only do this on the date that the VAT % will change.

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.