I just started trying the system to see if it suits our needs and then I’d like to get the automatic bank feed add-on. Hence, tagging is very important to us.
I’ve imported a spreadsheet from my bank to try it out before purchasing the bank feed. Our account is VAT registered, but when I tag a purchase, it doesn’t add VAT to it and if I try to modify to add the VAT. The VAT box is disabled.
I also tried creating a supplier before the tagging and then tagging, the option that is shown on the knowledge base (where you select ‘VAT’) is also disabled on my tagging.
Is this a bug or I’m doing something wrong? It’s crucial for us that this works before we transfer our accounts to quickfile and get feed banking.
It sounds to me like you have “Flat Rate VAT” enabled. If you’re wondering where the purchase VAT options is, then you’re probably not on the Flat Rate scheme.
Go to Reports >> VAT Returns, then click the orange VAT Settings button. If the Flat Rate Scheme box is unchecked then you will be able to declare your purchase VAT on all the areas you mentioned.
Bank feeds and auto tagging was the main reason I switched to Quickfile.
Once you carefully create your auto tagging rules it can almost run itself.
For some of my clients 95% of all transactions are auto tagged, massively reducing the time spent on their day to day bookkeeping.
Its like having a secret bookkeeper working for me in the middle of the night for free… well almost.
Thank you so much! I can’t wait to get the feed and start using this. Putting high hopes that it’ll help our lives!