Before you enter any transactions, and to make sure your VAT calculates correctly on the VAT return, you must make sure your VAT is set up correctly.
Enter your VAT scheme and registration number - From Settings, select Business Settings, then Accounting Dates & VAT.
- In the VAT Details section, check the following:
- VAT scheme - Check you have selected the correct scheme.
- Submission frequency - Choose how often you submit a VAT Return to Revenue. This depends on how you registered with the Revenue.
- VAT number - Your VAT registration number.
Set up VAT defaults in Sage AccountingTo make sure you're using the correct VAT rate, consider setting up default VAT rate for things you use often, such as ledger accounts. Ledger Accounts Set a default VAT rate on ledger accounts. When you enter transactions and select this ledger account, we use the VAT rate you set here. You can still change this if needed. - From Settings, select Business Settings, then Chart of Accounts.
- Open the ledger account from the list.
- From the drop-down list, select the correct VAT rate.
Set up VAT for trading abroad Sales to EU customers This is an optional scheme to help you report and pay all EU VAT through a single return instead of having to register and pay VAT in each country you sell to. Read about EU VAT e-commerce rules. If you want to use this scheme, choose: [BCB:299:UKI - Personal content block - Dane:ECB][BCB:301:UKI - Search override - Start IE:ECB] [BCB:276:UKI - hide back button:ECB] |