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Record a VAT payment or refund

When you pay VAT in QuickBooks Online, you are recording the payment against a specific VAT period; you are not actually transferring money to Revenue.

Record a VAT payment

  1. Go to Taxes.
  2. Select Payments, then select Record Payment.
  3. Select the bank account you've used to pay Revenue.
  4. Enter the payment date and amount in the appropriate fields.
  5. Add a memo if needed.
  6. Select Save.

Record a VAT refund

  1. Go to Taxes.
  2. Select the All returns ▼ drop-down menu, then choose the specific VAT period you need.
  3. Select the View summary ▼ drop-down menu, then select Record Refund.
  4. Select the bank account the refund has gone into.
  5. Make sure you've selected Refund under Payment Type.
  6. Enter the refund date and amount in the appropriate fields.
  7. Add a memo if needed.
  8. Select Save.

This will create a new transaction in your books. If you are adding transactions from your bank feed, you will need to record the VAT payment here first, then match it to the transactions on the Banking page.

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