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How to change VAT in Sage Line 50 |
One of the most frequently asked questions is how to change the VAT rate in Sage Line 50.
The best way is to create a new tax code, e.g. T2 as 15% and change the defaults on suppliers and customers to the default code T2 on Monday 1 December. After 13 months change the suppliers and customers back to using T1.
If you change the default tax rate, T1 to 15% then credit notes on existing invoices will show the wrong rate!
To do this:
- Go to menu Settings->Configurations and select Tax Code Tab.
- Create a new tax code, e.g. T2 as 15%.
- Change the default tax rate for suppliers and customers to code T2
If you require further advice please Contact Us.
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