Update VAT Rate in Batches
Editing Outstanding Batches to Update VAT Rate to 15%
- You will first need to have changed the Vat Rate percentage from 14% to 15% in the Tax tables.
Banking
- Edit the Bank Account (Banking| List Bank Accounts & double click on each bank account)
Recurring Banking Transactions
- Go to the Recurring Transactions tab.
- Edit each transaction where the Target Account is Nominal Ledger and there is a VAT value.
- To auto refresh the Vat value, just re-enter the Amount of the transaction and the Vat will be recalculated.
- Save the transaction.
- Repeat until all your transactions have been updated.
Batched Transactions
- Go to the Batched Transactions tab
- Edit each transaction where the Target Account is Nominal Ledger and there is a VAT value.
- To auto refresh the Vat value, just re-enter the Amount of the transaction and the Vat will be recalculated.
- Save the transaction.
- Repeat until all your transactions have been updated.
Customer & Supplier Journal Batches
List the batches (Customers| Sales Journal Batches| Sales Journal Batches Due to be processed OR Suppliers| Purchase Journal Batches| Purchase Journal Batches Due to be processed
- Edit a batch
- Edit each transaction in the batch which has Vat (Invoices, Credit Notes).
- To auto refresh the Vat value, just re-enter the Amount of the transaction and the Vat will be recalculated.
- Save the transaction.
- Repeat until all the transactions have been edited.
- Save the batch.
- Do this for all outstanding batches.
General Journal Batches
List the batches (General| General Journal Batches| General Journal Batches Due to be processed)
- Edit a batch
- Edit each transaction in the batch where the Target Account is Nominal Ledger and there is a VAT value.
- To auto refresh the Vat value, just re-enter the Amount of the transaction and the Vat will be recalculated.
- Save the transaction.
- Repeat until all the transactions have been edited.
- Save the batch.
- Do this for all outstanding batches.
Nominal Ledger Journals
List the batches (Ledger| Journal Batches| Journal Batches Due to be processed)
- Edit a batch
- Edit each transaction in the batch which posts to the VAT Control Account.
- The debit or credit amount will need to be adjusted to the new 15% rate.
- Save the transaction.
- Repeat until all the transactions have been edited.
- Save the batch.
- Do this for all outstanding batches.