I'm here to guide you on how both figures in QuickBooks and VAT returns should appear the same so you'll know how much you owe, GCG27.
QuickBooks Online (QBO) tracks VAT on all your transactions making it simple to calculate what you owe. You'll have to make sure to review your taxes and ensure QuickBooks is reflecting the correct VAT codes so it would reflect on your VAT return as well. Then, you can run the VAT 100 Report to show you the summary information for each box on the VAT. To access the report, follow the steps below:
- Go to the Taxes tab, then click on the arrow next to Submit Return.
- Select View Summary.
This should give you an idea of how much you owe. Aside from that, you can also double-check using these reports if you have still a few questions about taxes. I've added the articles below:
In addition, you may want to make adjustments to your VAT liability before you submit it to HMRC. I've got this article for your guide: Make VAT Adjustments In QuickBooks Online.
Reach out to us if there's anything else that isn't clear to you about the figure in QBO and your bank account. We're here to get you covered.
