VAT Change Form
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Use this form to update your VAT from 14% to 15%.
Go to Ledger > Extra > VAT Change
You can reverse the changes by reversing the rates but keeping the other settings the same.
You have 2 options to select from:
Update Totals: This will keep your excluding selling price. Example: Excluding price R100, new inclusive price R115
Keep Totals: This will keep your current inclusive selling price. Example: Inclusive price R114, new exclusive price R99.13
Adjust fixed prices:
This box must be marked. Otherwise, the VAT update will only update items marked as MU (markup) and not items that have fixed prices.
The following will happen when you click process:
•All active quotes, sales orders, job cards and recurring invoices will update.
•All items in your stock master will update.
See also VAT Setup