To manage or add new VAT codes in AccountsPrep, please follow these steps:

  1. Click 'Settings' on the navigation bar

  2. Select 'Tax Codes'

  3. Edit existing codes by clicking on their name, or add new codes by clicking the 'Add Tax Code +' button.

  4. Please click the green 'Save' button when you are finished making changes!

    When editing/adding a tax rate note the following:

    • The name you enter must be unique

    • The unique name may be used for import purposes when importing a sales/expense batch. In short, this is mainly useful if there are two or more tax rates that use the same % value. Otherwise we would suggest it is easiest to just enter the % value in the import template itself for your own clarity

    • 'Available for these batch types' is an option where users want to completely separate tax rates between sales and expenses (it may depend on your country/region as to what's best)

    Other points to take note of

    • You can reorder the tax rate types by using the move & drag button on the left of any row. This will change the order of how they appear within batch entry dropdowns and the tax reports

    • When you add or edit a tax rate in the relevant pop-up you'll notice you hit the button 'Add' or 'Update'. Just remember that this change will not save until you hit 'Save' on the main page after the pop-up closes. You'll be warned anyway if you do otherwise.

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