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September 10, 2020
Question

Quickbooks account is connected with tradegecko account. The VAT in tradegecko is calculated for entire amount and in quickbooks for each item in the invoice.

  • September 10, 2020
  • 1 reply
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1 reply

Rose-A
September 10, 2020

Hi, adriangavrila-eb.

 

QuickBooks Online automatically sets up a list of common VAT codes for you, based on where your company is located. The rate is used to calculate the appropriate VAT for each transaction or each item in the invoice.

Each rate links to a specific box of the VAT return. To know more about how VAT works in QuickBooks Online, you can go through the following articles below. These will provide you additional details on how to add, group, and track your taxes/vats

 

How do I set up sales GST/VAT rates and use them on forms? (International QBO).

Why do I see a VAT charge for my QuickBooks Online plan?

 

Keep in touch if you have any other VAT concerns, I'll be around to help. Have a great day!

September 21, 2020

The customer order values is 547.58 and the customer payed 547.58 

September 21, 2020

Due to round-up with 4 digits in QB the invoice is 547.59