VAT

Hello, My query is on VAT, I’ve been testing the migration from QuickBooks desktop Premier to QuickBooks Online and have run into a VAT issue. If anyone could please help me. Just to give you an update of what I did, I manually pushed (quickbooks desktop premier to quickbooks online) the chart of accounts, product list and the VAT codes. Suppliers and Customers were pushed using an API tool (quickbooks desktop premier to quickbooks online). Customers and suppliers every transactions of quickbooks desktop premier (such as invoices, credit notes, bills, sales receipts) were recorded as an opening balance to respective supplier / customer accounts when they were migrated to quickbooks online. All of the balances that were migrated were reflectling correctly in the customer / supplier accounts. Coming to VAT, because customers and suppliers were pushed via API, the system considers these entries to be an opening balance. Due to which, the system is unable to calculate the VA

I am looking for some help with our first VAT return in the UK. We use Quickbooks but there are some scenarios we aren't sure about.(1) Once we added our VAT number, we do not pay VAT on our Amazon or Stripe fees. My understanding is that we should be using 20.0% RC SG (Reverse Charge Services 20%) tax rate in Quickbooks. However, this is causing the Vat amount to appear in Box 4 "VAT reclaimed in the period on purchases and other inputs (including acquisitions in Northern Ireland from EU member states)".Is this correct as since I never paid this input VAT not sure if we can offset it against output VAT? (2) We sell on Amazon using Fulfillment by Amazon. All stock is stored in the UK, and when we sell on Amazon to Ireland, Amazon deduct the UK VAT, charge Irish VAT (23%) and pay us ex VAT. What VAT rate should we be applying to these transactions? Is it 20% ECG EC Goods Standard? 

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I have just come from quick books self employedI have inputted my FRS code and turned it on in the settingsWhen I start to categorise my transactions it shows this error:"Were sorry, QuickBooks encountered an error while calculating tax. Try reselecting the tax rate or reentering the product/service item and saving the form again." When I pick a different rate is works but returns this error when I select the FRS rate  

Hi all, This is my first post here, so if I make an error of etiquette, please bear with me. Here is my problem: I ordered parts from China via AliExpress. I paid the requested amount, which covered the products and the shipping. So far so good. As expected I then received an invoice from FedEx for import duty and (here’s the issue) the VAT. So, I have an invoice for £57.85 from FedEx of which £41.35 is VAT. I tried to post the £41.35 directly into the VAT Control account but probably not surprisingly the system said, “No” … I considered adding the £57.85 to the original invoice from AliExpress but that feels wrong because I have an invoice from FedEx. All and any (helpful) thoughts would be much appreciated. Thanks

TIA,What is the best plan for a limited company that is VAT exempt? I cannot find any information on this and the live chat is basically usueless... I assume there are many others in my situation so if anyone can help I would appreciate it very much.

I am about to change our VAT accounting from Cash to Accrual.  I thought that by changing the setting from cash to accrual would pick up all transactions which haven't been marked as filed on a return.  However this does not appear to be the case. Is there a report in QBO which shows all the transaction which have not appeared on a return - I would like to justify the VAT balance in the VAT control account?  In turn this will help check that what I am filing on  

Hi,I seem to have accidently changed the VAT rate for an income entry in 05/07/2021 the other day when I was on a differnent VAT rate as I didn't set the range correctly when sorting.It now won't let me change it back as it says it was filed. I don't believe it was as I only started filing my VAT from August 2021 in QB.It now brings this up as an exception my current VAT quarter for May2022 to July 2022. Just a bit puzzled by these events. Why would it let me change it if it was already filed then not let me change back?Shall I just submit it anyway and ignore it as its only a £70 entry (£7.80 in VAT)? Or should I try adjust it and take off?Many thanks,  

We were late submitting a VAT return due to an action message preventing us from filing a return on time.HMRC gave us an estimated VAT bill to pay which we did.We have now solved the issue in Quickbooks and the VAT return is now ready submitting.The estimated figure we paid is lower than the correct amount to pay in Quickbooks.We do not want to submit the Quickbooks return without removing the amount we have already paid HMRC.How do we proceed.

Hi, one of our clients is making sales exports outside of the UK & EU, so the VAT treatment is outside the scope and so No VAT but I still want the sales to pull through to box 6 on the VAT reports. Is there any way to create a VAT code that just pulls the sale through to box 6 without pulling the sale through to box 1 or 2 as well? or will this have to be shown through adjustments on the VAT return? I have tried creating a custom VAT code but this will add VAT of 0.00 to box 1 or 2 as well as the net going to box 6. Thanks 

This is the first return I'll do with the MTD scheme. I figured it would be as simple as an HMRC return, but obviously not. Do I now need to go in input all my clients and create backdated invoices to them, so I can then mark them as being paid, and thus all the figures will start to appear on my VAT return? And then there's the VAT I'm claiming - do ALL those receipts have to be inputted one by one into Quickbooks?? Thanks!

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HiWe have purchased a van on hire purchase prior to becoming VAT registered, which is our understanding we can claim the vat back on despite it being before registration. There was no money exchanged for vehicle as our old van was used as a deposit. So I have entered the expense into quickbooks, with vat inclusive, but this has massively unbalanced the bank balance with quick books balanceHelp! New to this!

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I have received a refund from HMRC for corporation tax by cheque, how do I record this in quickbooks please?

Hi all I submitted two VAT returns at the same time, one for a payment of VAT and a second (larger) one for a claim of VAT back. Instead of making two separate payments, HMRC simply transferred the balance back into my account. I now have a single payment with a random value that doesn't match either return, and cant see a sensible way to reconcile the bank with the two tax amounts.  Can I link that bank payment with two separate VAT amounts on the banking screen?  Or can I somehow combine them on the tax page to get the balance and then match that up with the bank payment? If anyone has any ideas how to tally this up it's be much appreciated. Kev

Hi All,We've been using Quickbooks for a while and are still getting used to it. Last year we sold at a local market and to cover the sales we created a single invoice which we thought was the total sales. However when we came to tally up we found we had a £60 short fall of payments vs the invoice amount. Due to our in experience we only noticed this recently. Our question revolves around our VAT statement. We have declared our VAT accounts for the qtrs between the market sale and now. If we now believe the sales where actually £60 less than our self created invoice how should we now deal with it and still be VAT compliant?Can we just reduce the invoice? Should we just close the invoice £60 short and if so how? Any other suggestions?thanks in advance

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hi Ive submitted numerous Vat returns correctly  via QB but my VAT page is now saying "we can't connect to HMRC right now". Ive disconnected and reconnected/reauthorised HMRC and QB is saying HMRC connection is enabled. However I'm unable to submit latest return which is now due as QB can't connect to HMRC and QB saying take action. What am I supposed to do????