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Domestic Reverse Charge - DRC - upcoming changes construction

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Hi everyone,

has there been any news when the QBO will be updated with the correct VAT codes or is this required to be done manually? I have guidance from Xero/Sage but nothing from QuickBooks yet.

Thanks,

Ryan

QuickBooks Online

E

EmmaMAnswer

Hello Ebage, we'll be adding 2 codes for the upcoming changes in QuickBooks Online, we have updated this link and added a q and a as well on the domestic reverse charge.

A

Ashleigh1

Hello Ebbage,

Welcome to the Community page,

So we have no information update yet of this, you can have a look at this article, but it will be ready to use on the 1st March 2021 in Quickbooks.

M

Michelle Turner

I have been sent this link to amend the codes

https://quickbooks.intuit.com/learn-support/en-uk/taxation/vat-domestic-reverse-charge-for-cis/01/788290

Be careful and note there are a few errors in there (screenshot for standard purchases shows 0% however instructions rightly state -20%)

Also - be aware these changes will calculate your VAT correctly -- however your invoices will need a manual note and calculation to show how much VAT and that reverse VAT is applicable -- really not ideal to say the least!

EbbageAuthor

Hi Michelle,

Thanks for this, but I am right in saying this is just for the desktop version? I believe the online version QuickBooks will be releasing codes similar to the brexit codes released at the start of the year.

Thanks!

E

EmmaMAnswer

Hello Ebage, we'll be adding 2 codes for the upcoming changes in QuickBooks Online, we have updated this link and added a q and a as well on the domestic reverse charge.

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