Difference between QuickBooks UK and US Version

There is not much difference between the two versions since the accounting standards around the world are almost the same. Here are the notable differences:

UK Version

• Automatically computes VAT Input and VAT Output. You can input the price in the invoice or bill either VAT inclusive or VAT exclusive and it will automatically computes VAT.
• Uses the British Balance Sheet as the default format in which the report starts with the non current assets but this can be changed in the settings to our usual Balance Sheet format.
• Spells CHEQUES this way
• Spells FAVOURITES this way
• When you check Programs & Features in the Control Panel, the publisher is Intuit Limited

US Version

• Utilizes the Sales Tax functionality where the tax is as an add on to the sales price. You have to input the VAT exclusive price in the invoice or sales receipt to compute VAT output.
• The Balance Sheet format is according to liquidity
• Spells CHECKS this way
• Spells FAVORITES this way
• When you check Programs & Features in the Control Panel, the publisher is Intuit Inc.

For any questions, email us at albqbsolutions@gmail.com