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Changes to VAT In new QuickBooks versions

Beginning with the 2010 version of QuickBooks, many improvement were made to the VAT upgrade functions and features of QuickBooks. This article will show you many of the changes that we made in 2010.

VAT in QuickBooks 2012, 2013 and 2014 functions the same as it did in QB2010. Users upgrading from 2010 to 2012 and later should see no changes or difference in their VAT experience.


Users upgrading from 2008 and older versions...

If you are upgrading from 2008 and older versions, the following support articles are for you!

Below are some of the major changes you'll see in new versions of QuickBooks . We recommend you also read this faq for more details on how to work in a newly upgraded file.

Watch this video on the changes we've made to VAT
Watch this video on how to resolve unassigned VAT amounts

  • Manage VAT window to help you manage your VAT information all in one place.You can get to this window by going to VAT, then choosing Manage VAT. Click here for more details.
  • Improved File VAT window - can now resize, run reports with it open, quickzoom on the numbers to get to the source transactions, shows TB balance of the VAT Liability account to make sure it matches with the amount shown on the report.
  • Electronically file (efile) your VAT return to the HMRC. Click here for more details.
  • New early payment discounts.  QuickBooks now automatically discounts the VAT on the invoice, then automatically calculates the discount on the NET amount when payment is received. Click here for more details.
  • QuickBooks 2010 and later now supports international VAT rules for Ireland and South Africa.
  • New VAT Code Setup Wizard to help you set up new rates, change VAT rates, add VAT for a different country.
  • New VAT Exception report shows the details of those transactions that have been added, modified, deleted in a period for which you've already filed VAT. It works for both Cash and accrual report basis. Click here for more details.
  • New Sales Day Book - shows one transaction per line with NET, VAT, and Gross totals
  • Due to changes in how VAT is tracked, the archived VAT 100 and VAT detail reports are not migrated over from QuickBooks 2006 and earlier. If you want to view these VAT reports in QuickBooks 2006 and earlier, open your company file in your previous version of QuickBooks. These reports, however, are brought forward from QuickBooks 2008 and later.
  • If upgrading from 2006 or earlier, we've improved the upgrade process to assist you in finding VAT amounts that QuickBooks detected as being unreported. Watch this video on how to resolve unassigned VAT amounts.


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