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Which VAT/Tax setting to use for my business?

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Kaelyn

07 Apr, 2011 06:30 PM

I am just setting up Easy Books on my iPad 2 and am trying to understand which VAT/Tax setup to use. I am a hairstylist, so operate on a cash basis, for the most part (although I will eventually add a credit card swipe app to my iPad in order to take credit cards). I do make purchases for my business, like hair products, that I in-turn sell at my salon. I do not produce any invoices. I would like to keep track of how much I will need to set aside for my tax return at the end of each quarter, so that I can set aside the money in a separate account with each deposit of funds (usually once or twice a week). What would be the correct VAT/Tax setup?

Thanks for your efforts!

1. Support Staff 1 Posted by Admin on 07 Apr, 2011 07:14 PM

   

   Are you registered for VAT? If you are, you will already know which scheme
   you are registered on and you can select it in the VAT settings in the app.
   If you aren't registered for VAT, change the "VAT registered?" setting to
   No.

   All the best,

   Mathew Waters

   On 7 April 2011 19:30, Kaelyn <
   [email blocked]> wrote:

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2. Admin closed this discussion on 07 Apr, 2011 07:14 PM.

3. Kaelyn re-opened this discussion on 08 Apr, 2011 12:26 AM

4. 2 Posted by Kaelyn on 08 Apr, 2011 12:26 AM

   

   Hi Mathew,
   I am I the U.S. and don't have VAT. I'm trying to set up, while trying to translate to U.S. Terms. Any help you could offer would be great! Thanks.
   kaelyn

   Sent from my iPad

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5. Support Staff 3 Posted by Admin on 08 Apr, 2011 09:07 AM

   

   See...
   http://help.easybooksapp.com/kb/faq/does-easy-books-handle-gst-good...

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6. Admin closed this discussion on 08 Apr, 2011 09:07 AM.