Filing VAT online - VAT 100 doesn't match taxes Screen, and Taxes Screen doesn't reflect ALL VAT

RoscoPC · ‎March 29, 2020

Hi There,

I'm moving from Desktop Pro to Online Plus.... Had to do this as you're not supporting Payroll in Desktop after 5th April! 2020.

The VAT screen shows 1 figure,... The VAT100 report shows a figure almost £4K less. When I run a Blaance Sheet as at 29th February, the end of my VAT Period, it matches my Desktop version, but is al;mot £1k more than the Taxes screen.. So I have 3 different figures.

How do I know which one will be filed with HMRC with MTD?

Balance sheet shows £15,372.84-

Taxes Screen shows £14,274,56

VAT100 shows £11,927.18

Vat 100 should show every un-filed transaction up until the closing date for that VAT period

Taxes Screen should show every un-filed transaction up until the closing date for that VAT period. Not sure what it's doing...

Balance sheet shows every un-filed VAT transaction for that VAT period..

Let me know?

Rosco

GeorgiaC · ‎March 30, 2020

Hi RoscoPC,

Thanks for the detail, the figure which shows on the Taxes screen and the figure against Box 5 when selecting 'Prepare return' should be the same figure and is the total amount which is owed or to be reclaimed by HMRC.

If this figure does not match the figures in the VAT 100 report for the given period then the likely cause of this is exceptions. These exceptions are not accounted for in the VAT 100, but the report will show the following message on the footer:

'Transactions in a previous VAT period were changed after filing. Before filing this period''s VAT, check the exception report to confirm that the transactions are correct.'

You can then view the exceptions by running the exception report, which should equal the difference.

There are several reasons why the VAT control account on the balance sheet does may not match the total amount due on the VAT return. These include:

- Previous VAT returns on the system not recorded as paid

- You have transactions which are posting directly to the VAT control account

- You have no exceptions on your current return

- You don't have any transactions dated after the current period

Please get back to us below if you are still unable to resolve the discrepancies. :)

View solution in original post

Adrian_A · ‎March 29, 2020

Thanks for the details, Rosco.

The reporting of VAT depends on the date of the transactions and if it's an accrual or cash basis.

For example, if the accounting method of the transaction is accrual and dated March, the filing period would be February.

We'll have to make sure that the transactions were entered in QuickBooks.

I've added these articles that talk about reporting VAT to HMRC:

Just let me know if there's anything else that I can help. I'll always be right here!

RoscoPC · ‎March 30, 2020

Both desktop and Online are set as Accrual.

Items that are tax dated before the 29th February, I.E. irrespective of DUE date, and are not filed should be included in the VAT report and the VAT 100 report.

By Simply removing the from date and leaving the to date as 29th February, I would get the right result.

However you have still not explained what will actually be sent to HMRC electronically. Please let me know of the 3 amounts which one will it send?

(I'm thinking currently I will have to resort to using my desktop version for filing VAT and only use Online for Payroll? Not ideal... And means the VAT is not accurate online, not ideal for an accounting system!)

Let me know?

Rosco

GeorgiaC · ‎March 30, 2020

Hi RoscoPC,

Thanks for the detail, the figure which shows on the Taxes screen and the figure against Box 5 when selecting 'Prepare return' should be the same figure and is the total amount which is owed or to be reclaimed by HMRC.

If this figure does not match the figures in the VAT 100 report for the given period then the likely cause of this is exceptions. These exceptions are not accounted for in the VAT 100, but the report will show the following message on the footer:

'Transactions in a previous VAT period were changed after filing. Before filing this period''s VAT, check the exception report to confirm that the transactions are correct.'

You can then view the exceptions by running the exception report, which should equal the difference.

There are several reasons why the VAT control account on the balance sheet does may not match the total amount due on the VAT return. These include:

- Previous VAT returns on the system not recorded as paid

- You have transactions which are posting directly to the VAT control account

- You have no exceptions on your current return

- You don't have any transactions dated after the current period

Please get back to us below if you are still unable to resolve the discrepancies. :)

RoscoPC · ‎March 30, 2020

Hi there again,

which figure will be sent to the HMRC? the one on the VAT 100? It always was in Desktop.

Will it send the figure in VAT 100 plus what's on the exceptions report?

I don't seem to be able to see what it will send, which I can in Desktop Quickbooks.

Thanks in advance

Rosco

GeorgiaC · ‎March 30, 2020

Hi RoscoPC,

The figure which will be submitted is the figure showing against Box 5 'Net VAT to pay (or reclaim)' on the 'Prepare VAT Return' screen when going to Taxes > Prepare Return.

The figure here accounts for the exceptions, which will show in a separate column on the prepare return screen.

When running the VAT 100 through the Reports tab this will not include the exception amounts and therefore does not show the total amounts due.

Thanks :)

tess1965 · ‎July 31, 2022

Hi

If the exceptions figures don't show on the VAT 100... what do HMRC actually see ? Do they just see the VAT 100 and you then have to explain to them the exceptions, or will they get a copy of the exceptions report as well ?

Regards

TessaP

DivinaMercy_N · ‎July 31, 2022

Hi there, @tess1965. I'm happy to share with you some information about filing VAT in QuickBooks Online (QBO).

When filing the return, the figure that will be submitted is the one showing against Box 5 Net VAT to pay (or reclaim) on the Prepare VAT Return page. To locate this, navigate to the Taxes menu and select Prepare Return. This accounts for the exceptions, which will be displayed in a separate column.

For reference, feel free to check this article: File your VAT return and record tax payments in QuickBooks Online.

Additionally, I've added this helpful resource that you can open to have a detailed look at the taxes you owe and the reason you owe them: Check how much VAT you owe in QuickBooks Online.

Let me know if you have further questions about this. I'm always around in the Community to lend a hand. Have a great day and take care.

tess1965 · ‎August 01, 2022

Hi Divina

If that is the case, then why is the Box 5 on the summary showing a much higher figure than the VAT Control account figure ? I have calculated that the VAT Control account figure is that which is in Box 5 less the net figure (which is a negative figure) in the exceptions report, so it looks like the true figure for Box 5 should be what is in the VAT Control account ? Do I have to do an adjustment to display the correct figure ?

Regards

Tess

Carneil_C · ‎August 01, 2022

Hello, @tess1965. I appreciate you getting back to us. Allow me to step in and share some insights into your concern about how box 5 is calculated.

To calculate box 5, we can take figures from boxes 3 and 4 and deduct the smaller from the larger figure and enter the difference in box 5. This way, It'll be automatically calculated if you're completing your return. If the figure in box 3 is more than in box 4, the difference is the amount you must pay.

For more details about reporting VAT to HMRC, please refer to these handy articles:

Visit me here again in the Community, and keep me posted on your progress regarding this concern with filing VAT in QBO. I'm determined to help you succeed. Keep safe always.

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Filing VAT online - VAT 100 doesn't match taxes Screen, and Taxes Screen doesn't reflect ALL VAT