VAT rate drop down

Question asked by Neil Martin 1 year ago

Hi,

The bank explain screen only has "Select VAT rate" or" No VAT" available to select in the dropdown rather than the usual "Exempt", "standard rate" etc. In addition, the bank import rules are now only providong the same two choices. Currently, i cannot explain the transactions nor complate a VAT return.

Any help would be gratefully recieved.

many thanks

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1 Reply

Hi Neil,

In this case, you must head to Settings > Organisation > Details & Tax > Tax > Manage VAT scheme. You must ensure there is a VAT scheme covering the date of the transaction you are attempting to input.

If you are still VAT registered, you can add a scheme without a Date To so that it will run indefinitely.

Tommy

Best answer
1 year ago

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