Setup Vat In Quickbooks

[100450]

Has anyone ever come across instructions on how to set up VAT in quickbooks for use in Thailand? For one it seems i have the US version (sales tax only). Additionally, i have no idea how to get w/h tax going... Has anyone come across these problems?

Thanks in advance for your help

[Chang_paarp]

VAT is the same as sales tax, in that it is a constant rate.

You can claim credit for VAT you have paid with the correct tax invoice, this is also part of Quickbooks.

[john_bkk919]

Sorry to come to the party late, but I think you need the UK version of Quickbooks to handle VAT properly.

That is what I was told by our accountant, a few years back. Yes, the US version has sales tax and although the two seem more or less the same, my superficial understanding is that trying to get sales tax to 'behave' like VAT with the US version of Quickbooks would be difficult.

According to the accountant, this knowledge came from his personal experience owning the wrong version of the software.

This was around 2006, perhaps things have changed, and I'm only relaying what I was told. I never tried to work with it personally.

Edited December 21, 2009 by john_bkk919

[raro]

Good luck with the Withholding Tax, no accounting program I ever heard of was able to handle this out of the box. Even SAP has a special Thai module to cope with it.

Workaround: Book it manually.