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Lds
March 1, 2021
Solved

Activating the new domestic reverse charge vat

  • March 1, 2021
  • 2 replies
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I have activated the new codes for drc for cis in quickbooks online today. However, when I start a new invoice and I go to enter the appropriate code from the drop down list in the vat, the new codes are not showing up. I also clicked on the manage rates and although it is showing that these new codes are activated it is still not showing up when I try to select it on the actual invoice.

I am CIS and VAT activated already. I am also on the Cash Basis Scheme.

Best answer by Ashleigh1

Hello Lds, 

 

Welcome to the Communtiy page, 

 

Can you try turning the codes off go out of the page then go back in and turn them on again and then go into the invoice and see if the codes then show up for you to select? 

2 replies

A
Ashleigh1Answer
March 1, 2021

Hello Lds, 

 

Welcome to the Communtiy page, 

 

Can you try turning the codes off go out of the page then go back in and turn them on again and then go into the invoice and see if the codes then show up for you to select? 

    L
    LdsAuthor
    March 1, 2021

    Hi, Ashleigh1

     

    Thank you for your help. It seems to have refreshed nicely now!

    Just another question if I may..... Some of my clients are both CIS and VAT registered and the new drc may apply to them,  can I, therefore, have my Invoice template to reflect the new wording needed for the drc for these clients and still have another Invoice template for my other clients?

     

    A
    Ashleigh1
    March 1, 2021

    Hi Lds, that is great to hear, in regards to the invoice and wording you would need to import your own in order to have different messages showing on the invoice templates, as if you just change one message it will change it for all of them so you would need to import one so it doesn't then you just select between them in the invoice customise section which template you want to use and send off to your customers/clients. 

      N
      Nickhu18
      August 1, 2021

      Could you please tell me how to activate the new codes.

       Thanks 

      C
      ChristieAnn 11
      August 1, 2021

      Hi there, Nickhu18.

       

      Welcome to the QuickBooks Community. I'll share some steps and details to ensure that you're able to activate the new codes.

       

      You'll have to set up your VAT Centre to manage your VAT process accurately. With this, you can add an additional tax rate so you're able to choose a specific rate in your transactions. Once done, the newly added tax rate will show in the VAT Rates section. Then, ensure that rates and codes are activated from there. To verify this, you'll have to click the Edit VAT drop-down arrow and choose Edit rates. Those codes must appear with the green button that means turned On.

       

      Here's how to set up an additional tax rate:

       

      1. Go to the Taxes menu.
      2. Click the Add Tax button.
      3. Select the type of tax you want to add. 
      4. Fill in the necessary field.
      5. Hit Save.

       

      Then, I've attached a screenshot below on how to activate the new rate or codes.

       

       

      You'll want to run VAT reports to get a glimpse of your taxes. Just navigate through the Taxes page, and then go to the View reports page drop-down.

       

      Additionally, here's an article that you can read to help manage your VAT setup and to see various VAT codes in QuickBooks Online: VAT codes and rates.

       

      Stay in touch with me if there's anything else you need by commenting below. I'm always around to help with your VAT concern in QuickBooks.

      N
      Nickhu18
      August 1, 2021

      Thanks, I’ve managed that but the VAT is still showing that I owe the VAT! Obviously if it is reverse charged then that VAT is paid by who I am invoicing and not by myself, how can I adjust this from my return?

      I hope you can help.

      Thank you

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