Ledger > Extra: VAT Change Form |
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Go to Ledger > Extra and select VAT Change
VAT Change
Use this form to update your VAT rate (e.g., from 15% to 15.5%).
Important Notes:
You can reverse the change later by switching the rates back while keeping the other settings the same.
Step 1: Choose How Totals Are Handled
You have two options:
•Update Totals (Recommended):
Keeps your excluding price the same.
Example: Excl. Price = R100 → New Incl. Price = R115.50
•Keep Totals:
Keeps your current inclusive price the same.
Example: Incl. Price = R115 → New Excl. Price = R99.57
Step 2: Adjust Fixed Prices
Tick "Adjust Fixed Prices" if you want the VAT update to apply to items with fixed prices.
If unticked, only markup (MU) items will be affected.
Step 3. Enter the New Rate
In the "New Rate %" field, enter the new VAT percentage.
When you click Process, the system will automatically update:
• All active quotes, sales orders, job cards, and recurring invoices.
• All items in your stock main form.
• Your previous tax codes:
•Input becomes Input 15% (Code: I15)
•Output becomes Output 15% (Code: O15)
If you still want to use these old tax codes (e.g., for accepted quotes at 15%), go to Tax Setup and tick the Active checkbox.
See also: VAT Setup
