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Hi
Our last couple of VAT returns have been recorded in QBO as paid out of Cash in Hand. How do we change this so QBO records the VAT payment from the bank account that paid the VAT please?
Andrew
I've got all the information needed to change the VAT record payments in QBO, AndrewTW.
You'll have to delete and recreate the payment using the bank account. I'll guide you through how to accomplish it.
To delete the tac payment:
Right after, record the VAT payment, this time using the correct Bank account.
For more details, check this article: Manage VAT payments in QuickBooks Online.
In addition, I've added a guide to completing year-end tasks in QBO: QuickBooks Online year-end guide and checklist.
Keep me posted if you need more help managing the VAT payments and returns in QBO. I'll gladly lend a hand again.
Hi @AndrewTW
You have to be quite careful with VAT Payments.
It's one of the many things that could do with fixing in QBO - annoyingly the VAT Payment screen defaults (alphabetically) the first Bank-type account. Every other payment entry screen defaults to the last used account - so it will catch you out.
More annoyingly, it's probably the only transaction that is not editable - you have to delete & start again.
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