Confirmation.com - Caseware Time | How to change the VAT rate

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Caseware Time | How to change the VAT rate

Published:  14/03/2018
Ensure a backup of the file is made before completing the following steps:
  •  Go to File | Company Profile | Taxes Tab | Change the rate accordingly
  • Then select Yes when asked to "Change all client’s tax rates Y/N"
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  • When you go to Bill from WIP, the Default Tax Rate would have changed.
 
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Please note: For old invoices even though default tax rate shows 15 %, the VAT calculated is based on what the VAT % was when the invoice was created. Old invoices should therefore not be edited as it will pull through new tax rate. If old invoices are edited then we advise to manually capture the VAT amount.
 

  Instructions:

How to change the VAT rate in Caseware Time
 
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