With the Default VAT Codes feature in Company Settings, you can tell AutoEntry your preferred VAT codes for a specific VAT rate, and AutoEntry will automatically populate the VAT Code drop-down for you.
This will mean that for new suppliers/vendors or for suppliers that have not have had codes remembered for them, AutoEntry will populate your preferred rate into the VAT code drop-down, saving an extra field you would normally need to select manually! This is especially useful for Sales invoices whereby it's generally the same VAT code you use for all sales.
VAT registered companies publishing Purchase and Sales invoices.
To set your preferred VAT rate, please do the following:
Navigate to your Company Settings, located on the left hand side of your company homepage.
Under the Accounting Settings heading, tick the box to enable Default VAT Codes.
Once selected, you can now add a VAT code for either Purchases or Sales invoices by clicking the 'Add VAT Code' button.
Then, simply select your preferred VAT code from the list. For example, you might have 3 or 4 different options for 20% VAT (between both Purchases and Sales). Simply select the code you use most regularly and AutoEntry fills in the percentage rate to the right.
Once selected, the next time an invoice is processed by AutoEntry where there is no previously remembered VAT Code and the VAT on this particular invoice equals 20% of the Net/Total, then AutoEntry will automatically enter your chosen VAT code into the drop-down menu. Just like with the Suggest Supplier/Customer Accounts setting, it'll be indicated with a blue corner symbol in the drop-down menu.
You can add as many VAT codes as you wish, although there can only be one preferred code per VAT rate. Don't worry though, if a particular invoice needs a different VAT code applied, you can change the selection at any stage before publishing!