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EU VAT and non-EU VAT

Question asked by Stephen Hooper 6 years ago

Hi,

I'm on my 30 day trial and have been using QuickBooks for the last 10 years.

In QB I have a code for purchases and sales from/to non-EU countries as there is no VAT on either and I have a EC-sales code (EGS) that provided the VAT number of the EU customer is in their profile no VAT is added to their invoice, otherwise it is added at the standard rate.

On importing my product list I see that the only viable options are 'not on the VAT return' or 'manual'... how do I relate this to the above?

Regards,

Steve.

2 Replies

Hi Steve, It is indeed possible to be more specific on Clear Books too. Firstly, please go to: Settings Organisation > Toggle Features > VAT & Bank Import Tool > Tick Reverse Charge & EC Rates. This will enable more options when assigning the tax to foreign-based customers.

Once this is complete, you will see that you are given an extra field. For example, when you now create an invoice, you will see a 'VAT Treatment' Drop-down box (See Attached). here you will be given the option to assign something as 'Goods to a customer outside the EU'.

I hope this is clear and helps answer your query.

Many Thanks,

Chris

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