When you set up a new VAT rate in QuickBooks Online, you'll see an option if this rate is for sales or purchases. Since these choices aren't visible on your end, let me lend a hand on how you can resolve this, @trisha14.
We can troubleshoot this issue to ensure you can access these options. Sometimes, your browser's cache and cookies can be filled and cause issues when working with our software.
To fix this, I suggest running QBO in an incognito window since this will help your computer run optimally. See these keyboard shortcuts to open a private window: