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February 9, 2022
Question

I’ve set the company as vat registered in error - how do I change this

  • February 9, 2022
  • 1 reply
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1 reply

DivinaMercy_N
February 9, 2022

Hello there, @Houseofstoves. I've come to provide information about your concern.

 

In QuickBooks Online (QBO), once VAT is turned on, the option to turn it off is unavailable. As a workaround, you can set your default settings for VAT to No VAT. This way, you won't be prompted to enter a VAT code on transactions when you create them. Let me show you how to do it:

  1. In your QBO account, click on the company Settings icon.
  2. Then, choose Account and Settings.
  3. Click Advanced.
  4. From the Accounting section, click the edit button.
  5. Next, change Default tax rate selection to No VAT.
  6. Select Save and Done.

 

For your reference, please visit this article: Turn off VAT. This also provides you with a video presentation on how you can change your VAT settings. 

 

Once everything is fine, you can now add your transactions in QBO as easy as 1,2,3. For the guide, feel free to check out this link: Manually add transactions to accounts in QuickBooks Online. This also includes instructions on how you can edit those transactions. 

 

I'm just around the corner if you have any other concerns with managing your QBO company. Don't hesitate to post your reply below. More power to your business. Take care always.