Ledger > Extra: VAT Change Form |
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VAT Change
Use this form to update your VAT if it changes (e.g., from 15% to 17%).
Go to Ledger > Extra > VAT Change
Note: You can reverse the changes by reversing the rates while keeping the other settings the same.
1. You have 2 options to select from:
•Update Totals: Maintains your excluding selling price. This is the recommended option.
oExample: Excluding price: R100, new inclusive price: R115
•Keep Totals: Maintains your current inclusive selling price.
oExample: Inclusive price: R114, new exclusive price: R99.13
2. Adjust fixed prices:
This box must be checked, otherwise, the VAT update will only apply to items marked as MU (markup) and not items that have fixed prices.
3. Enter the New Rate in the "New Rate %" Field
When you click Process, the following will be updated:
✔ All active quotes, sales orders, job cards, and recurring invoices
✔ All items in your stock main form
See also: VAT Setup
