Changing the standard VAT rate in Office Accounting 2008


Well, Gordon Brown has surprised us all by reducing the standard VAT rate for Christmas. Great news, but if you're a small business you may wondering just how you're going to implement it - or keep track of it!


Fortunately, if you're using Office Accounting 2008 it's quick and simple to change.


1) Select the ‘Company’ tab from the menu bar


2) Now scroll down and highlight ‘VAT’


3) Finally, with VAT still highlighted, select ‘Manage VAT Codes’ From the right hand menu


OA_VAT1


4) Now select ‘Standard rate’ and click the ‘edit’ button


OA_VAT2


5) Highlight 17.5% and use your keyboard to change the rate to 15%


OA_VAT3


6) Change the date under ‘as of’ to 01/12/08, click the ‘OK’ button and Office Accounting is now ready to go with the correct standard rate of VAT.

Comments (4)
  1. richard.bance says:

    I do not have the ‘Manage VAT Codes’ on the VAT menu

    in my vesion of MOA express 2008, can any body help me.

    Richard

  2. Jeff Granger says:

    Same here.

    I’m reaching the conclusion that this is only a feature in the Professional version, although it’s not shown as such in the Help dialogue.

    Jeff

  3. Shell Martin says:

    Can access on free version via company – preferences, then VAT tab. VAT codes, select standard rate & edit

    Shell

  4. I recommend that you don’t change the existing rate, but rather add an additional line with the new rate. This way you won’t get any issues with backdate transactions.

    If you don’t have VAT enabled (don’t see the VAT menu), go to Preferences in the Company menu, select the VAT tab and enable VAT (you can also edit the VAT codes from there).

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