UK 20% VAT Rate Change

From version 2.5 (released November 2010), SliQ Invoicing Plus includes a VAT rate change wizard that allows customers to easily change the rates applied to products. The wizard has been added to allow customers to more easily adjust their data for tax or VAT rate changes, e.g. the UK VAT rate rises to 20% in January 2010.

Note: The rate change wizard ONLY affects products and discounts in the Products & Discounts database in SliQ. No existing invoices - even recurring invoices - or quotes are affected.

Changing the VAT or tax rate in SliQ can be easily done by following the steps below.

1. Select the VAT Rates tab under the main Setup tab in SliQ

UK Vat Rate Reduction Reconfiguration

2. Enable Rate #4 and enter 20.00 as the tax rate (for example).

15% VAT Rate setup step 2

The new rate of 20% will now be available throughout SliQ for example when entering items in invoices.

3. If you want to change the rates applied to Products & Discounts, you can either edit each Product & Discounts record one by one or use the Tax Rate Change Wizard by pressing the Tax Rate Change Wizard button as shown below:

VAT Rate change

The tax rate wizard will then be displayed.

4. Then choose the rate you want to change and the value you want to change it to.

Tax Rate Wizard

and press OK to apply the rate.

For more information, see Editing VAT Rates and Product & Discount Records.

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