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barberbeccaltd-g
Level 1

How do you add vat on bank deposits

 
2 REPLIES 2
Ashleigh1
QuickBooks Team

How do you add vat on bank deposits

Hello barberbeccaltd-g, thanks for posting on the Community page, when you go to + new> bank deposit, if you scroll down you will see add funds to this deposit, if you click that you will see all the different columns and there will be one that says VAT if the box that says amounts are and it is on either exclusive of vat or inclusive of vat if it is on no vat the vat box will not show for you. 

paul72
Level 8

How do you add vat on bank deposits

Hi @barberbeccaltd-g 

 

You shouldn't really be adding VAT on a Bank Deposit.

If you are receiving payment for goods/services, you should raise an Invoice (showing the VAT).  The payment received is marked against the invoice.

 

Hope this helps.

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