The importance of knowing your VAT schemes

6 years ago

By Phil Earley (Sage One Support Team).

When you are getting started with Sage One Accounts, it’s really important you get off on the right direction and this includes VAT. Do you know which VAT scheme you’re on? Sage One supports all major VAT schemes so you can quickly and easily prepare your VAT return onlineHere’s how to check from within your Sage One Accounts software.

When you sign up for Sage One Accounts you will be asked which VAT scheme you are on. If you need to check what you originally set it to you can go to Settings > Financial Settings and from within here you can also change your VAT scheme. For more detailed instructions take a look at our help file: http://uk.sageone.com/help/accounts/settings/financial-settings.

There may also come a time where you have exceeded your threshold for Vat Cash Accounting or the Flat Rate Scheme may not be benefiting your business anymore and you need to change your VAT scheme. It is important to be aware of when you are going to be changing your scheme; this is so you can ensure your accounting program will be ready from that date. For more detailed instructions take a look at our help file: http://uk.sageone.com/help/accounts/settings/change-your-vat-scheme.

Need further help with Sage One Accounts or Payroll?

If you need any further help or advice on how to use Sage One Accounts, call our Customer Support Team on 0845 111 6611. (Sage One users gets free 25/7 telephone and email-based support included in their monthly subscription).

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