Credit Card Expenses Problems With Dates Being Excluded Out Of Vat Accounting Period

Hi Cat987654321,

Thanks for joining us on the Community and detailing the situation so well.

The date which you enter on the expense is the date this will hit your return if this falls within your current open period.

Are the individual expenses recorded in QuickBooks when they are purchased, and is the credit card then paid off within the VAT period, or after? 

Thanks

Hi Georgia,

Thank you for coming back to me.

Firstly, just to confirm the credit card payments are always paid off in full each month; there are usually at least three, each vat accounting period.

The expenses have been entered in QuickBooks on the date in which they have been  purchased; they have either come across automatically for one card and for the other one we have manually input the date. The credit card will sometimes be paid off in the vat period but at other times it will be out of it.

For example on the current vat accounting period , one card was paid on the 28 January, but some of the expenses were bought and input on 12 December - 31 December 19, so I assume will not be included.

When I complete the vat return manually I always include the expenses detailed on the statement for which the credit card payment has been made regardless of when the expenses have been bought as the payment has fallen within the open period.

I look forward to hearing from you.

Thanks for providing additional details, Cat987654321.

If the expenses are within the VAT period, then they should be included in the VAT return.

Checking the dates of the transactions helps us to verify if it's within the VAT period.

If yes, then, performing basic troubleshooting steps can help us isolate if it's a webpage issue. Stored cache and cookies in the system can cause unexpected behavior.

To start, let’s try accessing your QuickBooks Online account using a private browser.

Here are the keyboard shortcuts:

• Google Chrome: press Ctrl + Shift + N  
• Mozilla Firefox: press Ctrl + Shift + P
• Safari: press Command + Shift + N

If it works, you’ll have to go back to your regular browser and clear the cache to improve the program's performance. If not, I'd highly suggest using other supported browsers. 

I also recommend contacting our Customer Care Team to further check your transactions.

If you have follow-up questions, don't hesitate to let me know. I'll be here to help.

Thank you for coming back to me. 

I do not think the problem we are having is anything to do with our browser but the way Quickbooks includes /excludes expenses from the vat return. I still have to input some records manually but I thought I would wait until we could resolve the problem.

I completed the vat return  for 31 March manually again as I still needed to resolve the issue with how we can get the expenses bought by credit card included.

Just to clarify expenses bought by credit card sometimes do fall out of the open vat return but I have always included them if the credit card is paid in the vat return period. For example for quarter ending 31 March, payments made to pay off the credit card bill in January, February, March have been included on the vat return. The expenses (materials) were bought 3/12/19-10/3/20, and they were included on the monthly credit card statements which have been paid monthly in full within the open vat return.

Basically, the dilemma is happening because Quickbooks is  using the date when the materials were bought, where as I actually include them when I make the credit card payment.

I look forward to hearing from you. 

Many thanks.