Not VAT Registered

If your business is not registered for VAT, you must tick the box tick if the business is not registered for VAT within Setup > Company Details. This will prevent the processing of VAT on transactions and the posting of the net amounts (excluding VAT) to the relevant Profit and Loss accounts.

Change of VAT Status within the Financial Period

  If you become VAT registered during the financial period you must:

1. Ensure all transactions up to the day before the commencement of VAT registration have been entered
2. Go to the Setup> Company Details> and untick the box which states that the business is not VAT registered.

 Going forward, VAT will be processed on all transactions posted thereafter.