Hello,
I just joined the community, and I have a question. I just started using Quickbooks pro for bookkeeping, I am used to sage account.
In sage VAT payable to HMRC shows in liability nominal code, which when a company pays HMRC, it is posted to the nominal code to reduce the liability.
I don't know how to do this in Quickbooks, as the software have Vendors, where all account payable are or created. so If I do it as I understand, I would create VAT account on Vendors, create a bill, then pays it. This amount do not reduce the VAT liability. So I must be wrong.
VAT returns are not submitted through Quickbook, I run VAT 100 report in Quickbook, then copy the figures to HMRC VAT return online.
Please how do I post VAT payment in Quickbooks, so that it can reduce the VAT liability.
Thank you for your reply.
