Why is this the default VAT code?

There are several windows where VAT is encountered: Sales, Purchases, Spend Money, Receive Money and Bank Register (Sales, Purchases, Spend Money and Receive Money transaction types) plus the Record Bank Charges and Interest Earned window . Each of these windows has a VAT column on the right hand side or a VAT field, where a VAT code can be selected.

The default VAT code is the one that appears in the VAT column or field when you select the account for the transaction or transaction line. There is a reason the selection defaults to the code it does. For the windows where VAT codes are used, each of the default possibilities and the reason it is the default VAT code is listed below:

Sales window / Service, Professional or Miscellaneous layout
Sales in the Bank Register window (Miscellaneous layout)

Sales window / Item layout

Sales window / Time Billing layout

Purchases window / Service, Professional or Miscellaneous view
Purchases in the Bank Register window (Miscllaneous layout)

Purchases window / Item layout

Spend Money window
Spend Money in the Bank Register window

Receive Money window
Receive Money in the Bank Register window

Receive Bank Charges and Interest Earned window