How to change vat rate on quickbooks desktop?

Changing VAT rates in QuickBooks Desktop is something I've done multiple times for my small business. Here's how to do it properly:To create or modify VAT rates:1. Go to the Lists menu and select Item List2. Press Ctrl+N to create a new item3. Select Service as the type4. Give it a name like "VAT Standard Rate" or whatever describes your rate5. In the Rate field, enter your VAT percentage6. From the Tax Agency drop-down, select the appropriate tax authority7. Click OK to saveTo change existing VAT rates:1. Go to Lists → Item List2. Find the VAT item you want to change3. Double-click to open it4. Change the rate percentage5. Click OKImportant notes: - Make sure you're using the correct effective date when rates change- Consider creating a new VAT item rather than modifying existing ones if you need historical accuracy- Back up your company file before making tax-related changesIf you have existing transactions with the old rate, you might need to consult with your accountant about the best way to handle the transition. QuickBooks has a pretty comprehensive guide on their support site about managing tax changes that's worth checking out!