VAT

The program has added together my figure for “collected on sales” and my figure “paid on purchases” to suggest that I pay HMRC the sum of the two figures. I am pretty sure that I am supposed to deduct the figure “paid on purchase” from the “collected on sales” figure and pay HMRC the balance, not the sum of the two figures. Something is clearly wrong. Any clues?

Hi I recorded the vat Payment in the wrong account instead using our bank current i used cash in hand account. How to correct it?thanks.

I want to reclaim this.Why does it not recognise it!!!

I have paid a quarterly VAT bill, reconciled the bank account and coded it to the VAT liability in the balance sheet.  When I go to the Taxes : VAT part of QB and record the payment, the bank account reduces incorrectly and the payment doesnt appear. Essentially QB is recording the payment twice even though it is paid only once appearing in the list of bank transactions.How do I record a VAT payment in the Taxes : VAT section, get it to appear against the only payment in the list of bank transactions and match it.

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I have been with Quickbooks for a number of years but the link from Quickbooks to HMRC for VAT is not working and it is asking me to sign in. According to the website I am already logged in and registered with HMRC. How can I resolve this?

The business has only just registered which is why such a long period but it should have registered from 1/8/21. Quickbooks has pulled in the period starting 1/8/21 but just as one period to 30/6/24, there were lower rates before April 2022, how do I correct the return for this as only seem to be able to select one VAT rate? Thanks

Hi, I do the bookkeeping for a company, and we have a situation where a supplier had to register for VAT retrospectively, and asked if we could pay the VAT on a transaction that happened last year. This was no problem, as we are also VAT registered. But my question is, can I post the VAT directly to the VAT control account? This is what I'm planning, but I don't know if it'll definitely work. When I pay him, I'll do a VAT only transaction, dated for today, so it has the correct date coming out of the bank. Then I will make two journal entries to move the VAT to an earlier period (let's say £300 on 30/11/2023). So: Today - Dr Accruals £300, Cr VAT Control £30030/11/2023 - Dr VAT Control £300, Cr Accruals £300 Thanks for your advice.

I want to record a VAT payment made to HMRC from my personal account which I don't have linked to QBO for obvious reasons. It didn't come out of my business bank account. When I make business purchases from my personal account I use an equity account to show that money has come from me.VAT payments can only come from a "Cash in hand/bank" or Credit Card account. How do I show that I have personally paid the VAT?

How can I change a category from.expenses to sale of product

Surely, if I click the green button (see screen grab) to 'Record Refund' the moment I have sent my VAT Return to HMRC as I'm being advised to do, I won't be able to record the refund since the refund will take some days to be paid by HMRC? 

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I have somehow duplicated my Jan 2024 vat expense. Subsequently it is showing in the vat suspense account incorrectly. If i try and delete it it wont allow me to. How can I sort this out please?

Does anyone know if/how I can access VAT returns filed in QuickBooks desktop?I am using the Amazon AppStream tool provided via the QuickBooks Desktop app to export data, however it only lets me view VAT100 reports for the last quarter. When I enter customer parameters to look at earlier returns, the VAT return appears blank. Any help anyone can offer would be much appreciated!

Why is my VAT amount not showing the correct figure?

Firstly, we are unable to contact support.  As Irish customers, we only have chat support not telephone support.  Today we have tried 6 times to contact support; they join the chat and leave it straight away.Our issue is with 2 transactions appearing on the Exception Report for VAT that are not genuine.  They are doubling the VAT for these transactions which was previously filed thereby reducing our liability incorrectly.  

Hi all We are not VAT registered so I have the Default Tax Rate Selection in Settings, Advanced to NO VAT. So, I set up a new rule, whereby the expense it split into 2 or more categories and the VAT status set to No Vat. When I have a payment record that has come through automatically from the bank link up, the splits are correct but the VAT rate is always blank, meaning I have to re-enter this information. Not the end of the world but surely the VAT rate should save with everything else in Rules so that I can just "Add" the transaction.Or am i doing this completely wrong!

We have recently started working on a new client. The client has previously done all their own accounting and VAT submissions in Quickbooks.I would like to understand what the process is for me to submit their VAT as an agent and for the client not to be able to make the submission. Do I need to have an accountant login? Assuming I will need to then relink MTD to the agent login? Once this is linked to the agent login will the client be unable to submit the VAT return?Currently I have normal user access and not accounting access, assuming this will need updating?

Client is set up as a primary admin and tries to log in using their own login credentials, but it doesn't seem to want to do it. Client is also using same email address for another client and that works fine.

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I have been through the help files, and found this"If your supplier refund comes through your automated bank feed, you don’t need to record it manually. Simply use the Add function to add the refund as a deposit, and categorise it to the Creditors (Accounts Payable) account."Again adding it as a deposit increases my VAT, but since it is a refund, it should just contra an expenditure, with no affect on VAT.  How do I fix this.  If I can't, then it would appear Quickbooks is not for me.

Good afternoonPlease can someone advise me how to process the HMRC Monthly Postponed Import VAT Statement on QuickBooks Online?In addition, please could you advise how I amend previous VAT returns due to the HMRC Monthly Postponed Import VAT Statements?Looking forward to hearing from you.Kind regards,Mark

Below there is sample break down the amounts which should be enter for each relevant box on VAT return when using the Flat Rate Scheme (FRS), 11%, with a turnover of £1000 (excluding 20% VAT) and a purchase from Ireland for £100 with the 20% reverse charge (20% RC SG). In summary, the first amount reflects the amount that I believe should be correct, and the second amount shows the amount that QuickBooks includes:                                                     Box 1: Should be £152 (11%on £1200=£132+ reverse charge VAT here, which is £20) QB: £132 (QB shows just VAT due on sale, without VAT on purchase from Ireland)Box 2: £0 £0 Box 3: £152 £132 (QB)Box 4: £20 £20Box 5: £132 £112 (QB shows under calculation of V

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We are charged 100% vat seperateley. How do you enter it