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Experienced Member
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VAT flat rate scheme liability date

After submitting a flat rate VAT return, the VAT due to HMRC is not shown in the reports for the VAT period. This is due to Quickbooks creating the journal for the liability on the submission date. 

Today (14/05/19) I submitted a return for 01/02/19 to 30/04/19. The trial balance does not show the VAT due for the period unless I put the dates as 01/02/19 to 14/05/19 but then that would include transactions for 01/05/19 to 14/05/19. Is there a way to show the liability at the end of the VAT period? 

Best answer 05-14-2019

Accepted Solutions
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QuickBooks Team

Re: VAT flat rate scheme liability date


Hello WilliamM,

 

We would advise to check this with an accountant or HMRC. It may be fine, however we would not want to say for sure.

 

Thanks,

 

Talia

3 REPLIES 3
QuickBooks Team

Re: VAT flat rate scheme liability date


Hello WilliamM,

 

Welcome to the Community - thank you for your question!

 

You can edit the date of the journal QuickBooks automatically posts once you file VAT, as long as the date you change this to is between the end date of the period and the filing date. You can do this by going to the VAT Suspense account, selecting the journal and changing the date.

 

Please let us know if you have any further questions.

 

Thanks,

 

Talia

Experienced Member

Re: VAT flat rate scheme liability date

Thanks for your reply. I've not submitted any returns under MTD, will the changing the journal date still be ok for returns once that starts?

Highlighted
QuickBooks Team

Re: VAT flat rate scheme liability date


Hello WilliamM,

 

We would advise to check this with an accountant or HMRC. It may be fine, however we would not want to say for sure.

 

Thanks,

 

Talia