Skip to main content
T
team-mcsbranding
April 16, 2024
Question

hHw do I record an invoice with EU import tax of 23% on quickbooks

  • April 16, 2024
  • 1 reply
  • 0 views

I have received a Polish invoice with 23% VAT.

I need to know how to record this on quickbooks; as I currently only have 20% VAT.

I have already looked at the how to guides on setting up a new tax rate within quickbooks. Thats fine.

If I set up the new rate, does this then pull through when I am doing my VAT return to HMRC. As I know I have to record import tax seperately now. 

1 reply

G
GeorgiaC
April 16, 2024

Hello team-mcsbranding, thanks for reaching out to the Community

 

When creating a new tax code in QuickBooks Online, you can opt to create a new Tax rate (for VAT, which will post to your VAT return) or Custom tax (a tax percentage which you can post under a new tax agency).

 

If you need any further guidance on how to create the code, please contact your accountant or tax professional for support. If you don't already have an accountant, you can find a QuickBooks certified accountant near you on our online directory. 🙂 

Terms & ConditionsAccessibility statement