Manage VAT payments in QuickBooks Online
by Intuit•3• Updated 1 month ago
Learn how to record, adjust and delete VAT payments in the tax centre.
The tax centre has everything you need to handle tax in QuickBooks. You can run reports for your VAT liabilities, record or edit VAT payments, and see your payment for different time periods.
Here's how to manage tax payments and other tasks in the tax centre.
Note: | If you don't see the features mentioned below, you may be using the tax feature. Learn more about setting up and using tax. |
Review VAT reports
Get a tax liability report
- Go to VAT and select View reports.
- Select VAT liability report.
Note: The name of this report may vary based on the location of your QuickBooks Online file.
The report shows each VAT agency, the taxable amount of sales, and payments.
Manage VAT payments
Record a VAT payment
- Go to VAT and select the Payments tab.
- Select Record payment.
- Fill in the required fields (bank account you're making the payment from, payment date and amount).
- When you're ready, select Save. If you want to view the payment, find it in the list and select View.
See all of your VAT payments
- Go to VAT and select the Payments tab.
- The list of payments is displayed, select View.
Adjust a VAT payment
You can make an adjustment while filing your taxes. In the Returns tab, select Prepare return. On the Prepare VAT return page select Adjust. Use this when you need to decrease or increase the amount of VAT payment for things like credits, discounts, fines, interest, penalties, and corrections for rounding errors.
Enter the adjustment amount and reason for the adjustment. You can enter a positive or negative amount.
Note: | VAT can get complicated. If you have questions, reach out to your accountant or tax agency. |
Delete a VAT payment
- Go to VAT and select the Payments tab.
- Select Delete from the Action column. Then select Yes to confirm.
Note: You may need to refresh the page in order for this to take effect.
Learn more about how cash and accrual accounting affect VAT.
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