Hi,
I was on flat rate (Vat) until recently. I applied to the HMRC to return to standard vat which they approved. My question is i have already recorded some transaction in flat rate for the period in which they asked me to start using standard rate. How do i reverse those transactions to standard vat rate. Thanks.
Hi Bright,
Open the transaction window and click on the small 'Up' arrow next to the VAT Treatment box. Then remove the tick next to 'Flat Rate Scheme applies to this transaction'.
Cheers,
