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arkvalleyinfo
February 7, 2019
Solved

How to set up VAT Flat Rate Scheme

  • February 7, 2019
  • 1 reply
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Best answer by Mollcons
This feature is available in QB Pro edition. Goto Edit/Preferences and then scroll down to VAT, select Company Preferences, and then select the "VAT Scheme" button to select either Standard scheme or Flat Rate scheme. As @Graceman says, then select the start date and the rate and any other options, OK and it will prompt you to re-open Quick Books.

1 reply

Graceman
Graceman
February 7, 2019

From the edit menu select preferences.

Then vat at bottom of left hand menu. Then company preference tab, and top of the window that opens select to track vat then the Vat scheme can be selected and in the drop down box scroll to FRS .

With this selected a extra box will appear where you can set your Vat rate.

Now enter your vat registration data then leave the rest alone and edit the Vat agency to report the periods correctly.

A
arkvalleyinfoAuthor
February 7, 2019
Good answer but unfortunately I’m on Quickbooks Pro Which doesn’t have this feature
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