We have an existing inventory of stock and are investigating how to handle the conversion from a UK VAT unregistered company to a UK VAT registered company. Enabling VAT registered status looks extremely easy, but we cannot find any way within Books to manage the input VAT for stock that we already hold. This is stock that was purchased before registration.

Because the purchase orders/bills were created before VAT registration, none of them have VAT listed in the purchase orders and therefore I cannot see how Books would know that they need to be considered for input VAT.

Similarly, goods we imported from abroad, which have import duties that are eligible to be considered, fall foul of this issue. These purchase orders/bills have no way of representing import duties, charges, etc, but they are eligible for consideration for four years prior to the VAT registration date.

Does anyone have any experience here and know how to get Books to do the right thing? I'm exceptionally worried as to the horrible possibility that we'd have to enable VAT, and then re-enter all prior purchases with the VAT modules enabled.