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VerityR
April 2, 2021
Question

20%ECG

  • April 2, 2021
  • 1 reply
  • 0 views

Last year I had to account for a couple of imports from the EU, and used the code 20% ECG. From your pages this should show in the VAT detail report as:

+/- VAT at 20% to Box 2 and 4

+/- Net Purchase to Box 7 and 9.

However I just checked this and it only seems to have posted to box 4 and 9. Is this an error in Quickbooks?

1 reply

DivinaMercy_N
DivinaMercy_N
April 2, 2021

Look no further, @VerityR.

 

Make sure you use QuickBooks Online's pre-created VAT codes and don't use customise or manually created codes when recording a transaction. For more details, please visit this article: Common VAT codes. 

 

Once confirmed, run the VAT detail report again and check the 2,4,7 and 9 boxes. Here's how:

  1. Click Reports.
  2. From the search box, type VAT Detail Report and then select it. 
  3. Choose the reporting period and desired date range.
  4. Hit Run report. 

 

In case there are codes that you can't see in the VAT column of a transaction, they may not be active. To activate them, please refer to these steps:

  1. Navigate to the Taxes menu, select Edit VAT and then Edit Rates.
  2. Click the gear icon above VAT rates and choose Include inactive.
  3. Select Activate.

 

Feel free to drop a comment for further questions about using the 20%ECG VAT code. I'll be glad to get back to you. Take care always. 

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