Vat flat rate scheme to normal Vat

Accounting
1

Hi,

We have recently been removed from the Vat flat rate scheme so have altered this in our settings on quickfile. I believe I am right in saying that for quickfile to accumulate the vat on sales to be reclaimed, each of our suppliers will need their accounts updating to allow the 20% vat to be implemented into auto tagged invoices.

Firstly is this correct? and secondly is there an easier way of changing them i.e in bulk rather than going into each individual supplier and changing the settings (250+ suppliers)?

Many thanks

2

Hello @BPB

If your auto tagging rules are set to create invoices with 0% VAT, then yes they would need to be updated. Unfortunately there isn’t a way to bulk update these.

3

Hi, Thanks for the reply, I didn’t think so…

Thanks again, onto my mundane task :grinning: