Tax rate on Purchases
Hello Quickbooks Community,
I have a quick question. I am new to QuickBooks and new to my own creative business. When classifying my banking transactions, I am having trouble working out what tax options to select.
For instance, when placing my subscriptions into the subscription category, what tax do I select
0.0 Zero Rated
20.0 Standard
Exempt from VAT
No VAT
These are the four options, but for things I am buying for the business, I have no idea which one is correct.
Thanks for your help!
