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.
|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 VAT liability report
- Go to Reports (Take me there).
- Search and select VAT Liability Report in the search field.
The report shows each VAT agency, the taxable amount of sales, and payments.
See all of your VAT payments
- Go to Taxes and select VAT (Take me there).
- To view the list of payments, go to the Payments tab and select View.
This opens a transaction report that lists all your VAT payments. You can adjust the date range or select Customise to further refine the report.
Manage VAT payments
Record a VAT payment
- Go to Taxes and select the Returns tab.
- From the list of returns, find the one you wish to record a payment for.
- From the Action column, select Record payment. Note: Based on the status of your return, this option may be available under the dropdown in the Action column.
- Fill in the required fields (bank account you're making the payment from, payment date and amount).
- When you're ready, select Save.
- To view the payment:
- Find it in the list on the Returns tab and select View return.
- Or, go to the Payments tab, find it in the list, then 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.
If you need to make an adjustment, go to Taxes, in the Returns tab, select Tax Adjustment. The Journal Entry window opens. Use this when you need to decrease or increase the amount of tax 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.
|VAT can get complicated. If you have questions, reach out to your accountant or tax agency.
Delete a VAT payment
- Go to Taxes and select the Payments tab.
- Select Delete from the Action column. Then select Yes to confirm.
Note: After you delete a payment, the page doesn't refresh automatically.
Leave and come back to the Taxes menu. The payment shouldn't appear anymore.
Learn more about how cash and accrual accounting affect VAT.