VAT

I have been adding vat that I have payed on my expenses, however I have noticed it's not showing when I do my monthly expense report, i.e I pay a subscription of £11.99 but only shows I have payed £9.99

Hi I'm struggling to change vat from 20% to 5% before adding bank transactions for the same payee. The job in question is eligible for 5% and I can't change it without changing every other payment that is 20%!

Hi, When entering a bill and/or supplier invoice either by bank feed or manually and this supplier/service is from a company who is not VAT registered ( I am) do I enter code Zero rated or No VAT?and what about companies/suppliers who are VAT registered but have not billed VAT e.g. Advertising on Facebook. Thanks

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why are my Vat payments to hmrc not showing as expenses on my self assessment

QBO Plus UK version. I have a question on Corporation Tax charge. If one wants to pass a provision for tax adjustment what sort of account does one create for the Corp Tax charge? It should be such that the P&L should show Net Profit before Tax and then Tax charge shown separately and then Net Profit after Tax. It must be in the conventional accounting presentation mode. Currently it seems the above cannot be done cleanly. Close one can come up to is to park the Corp Tax A/c under Other Expenses. There should be a better way! Help!

Hoping someone can help as I cant work this out.I have a client who pays HMRC monthly a payment on account. These monthly payments are entered as an expense to taxes prepaid, under prepayments.My question is how do i move these payments from prepayments to the Vat quarter it needs to be allocated against. I dont want to just delete them and re-enter them in the taxes record payment if there is another way.I have tried to journal them to the correct tax account but it doesnt allocate correctly and the vat balance still shows that same amount as owing. 

Hello, our business can only claim back 38% of any VAT we are charged. This causes a problem with quickbooks as there is no easy way for the amount to be tracked using quickbooks.  So we have to use a spreadsheet and upload the figures like that. Has anyone got any ideas as to whether I can get quickbooks to code 38% of 20% VAT on purchases? Thank you!

  This article aims to help you with all things VAT. It may be that you need help recording VAT payments, submitting a VAT return or you need a hand with setting up VAT. Post your questions below and we'll have an expert get back to you.              

Can someone clarify this for me…QBO AdvancedWe run VAT on a Cash BasisWe are filing the VAT return for November and December. A September dated customer invoice was paid in November and discounted.  It is showing on both the Exception Report and also in the Sales VAT report (ie twice).  Is this an error?I contacted QBO support and they said it’s because it’s a filed transaction (which it isn’t) and wanted to talk me through undoing the Sep/Oct Return?  Surely this isn’t correct?Any help would be appreciated as I am in doubt. Many thanks

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Why does QuickBooks Self Employed include car hire payments and fuel costs in 'DISALLOWABLE EXPENSES' for a driving school vehicle? These are valid expenses and are included by my accountant when preparing my tax return yet QuickBooks Self Employed excludes them???

My first year flat rate 1% reduction on VAT ends on the 31st Jan and I need to schedule quickbooks to automatically start tracking the new rate from the 1st February.   I believe this should be possible but cannot seem to find any instructions on how to set this up to take effect without manually adjusting it on the 31st January.  Can anyone point me in the direction of some instructions on how to do this correctly?   I'm terrified of getting anything VAT related wrong so need a very simple step by step guide with screenshots if possible! 

Is there any way to make the VAT to be cleared on VAT Tab when payment is made? Thanks 

I have 2 businesses for which I've used Quickbooks online since October 2019. I live in Jersey. My businesses are wholly in Jersey and I've been paying VAT on my subscriptions. Jersey is VAT exempt. How do I claim back the VAT I have paid? 

Hi, I'm new to QBO. I submitted my last VAT return using MTD. I have received a refund. How do I post it? When I go to Taxes, the VAT shows as paid (green tick next to it) but it doesn't allow me to post the refund onto my bank account. If I go to filed returns, there is nothing on that list. As I said, I submitted the return using MTD, it went through OK. I'm not sure of what to do now. Thanks in advance.

When recording a VAT refund QB matches the payment but do I then need to post a journal to reduce the expense by the refund amount so that my expense/overhead is not overstated in the P&L.

I prepared and attempted to file my VAT return with HMRC through QuickBooks Online but the return status is now showing as Rejected with the following message:HMRC has rejected your VAT return.  Call them on 0300 200 3700 and quote internal error code INTERNAL_SERVER_ERROR so they can take a closer look.I have gone into my HMRC account online and the VAT return is showing as being submitted successfully.How can I mark the return as filed in QuickBooks rather than rejected?  

Hello, I need to create a new VAT code (which I'm calling 'DRC') for the Domestic Reverse Charge now that I have gone VAT registered.  Within the VAT code I have also set up two VAT items: DRC on purchases and DRC on sales.  I am stuck at the point of selecting the correct VAT return box and the correct VAT return rates for both items ... or should I be doing this through a VAT group anyway? For purchases I believe I need to put the VAT component in box 1 and 4 and the net value in box 7For sales I believe I only need put the net value in box 6 When selecting the boxes which a VAT item can be applied to I am only given options for 1 box or two boxes, not 3 as I will need for purchases (1, 4, 7).  Would I achieve this by setting up a VAT group which has one item handling the box 4 and 7 part and one box for the box 1 part?  If so, can somebody please give me an Idiot's Guide set of instructions? Thanks in anticipation of a simple solution! Re

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I normally use the sequence of "Sales Receipt, Card Sales, 400 Sales paid by card, VAT 20%" when accepting bank transactions. This has worked perfectly well for years but now I find it impossible because no matter what sequence of actions I try, Sales Receipt always reverts to Deposit. The reason this needs solving is because Deposits can refer to supplier refunds, loans being repaid by Staff, deposits of expired bank notes or cash sales etc and if not properly allocated to the correct accounts we could end up paying VAT on such deposits or underpaying VAT on card sales which could be very costly. I have asked QBO Training and QBO Support without success so far.

Box 6 and 7 not included other sales just vatable mentioned is that ok?

Quickbooks is not connecting to HMRC today (Dec 😎 and VAT deadline is today. QBs Help button is also not working and the customer service line is not open. POOR SHOW!!

Quickbooks looks like it's done an update this week the way I invoice has changed and it won't let me add vat like it used too. Ive added it on the lap top but the app doesn't allow me to choose the option of adding vat? anyone had this same issue

Hi My VAT return has deposits as well as invoices in my sales boxes which is duplicating the VAT due. Does anyone know how i can fix this please?