Voiding or altering an invoice after VAT return has been filed whilst using the FRS

I can show you how to write off bad debt in QuickBooks Online (QBO), @Nick-Flint66. 

After identifying all the invoices or receivables that should be considered as bad debt, you can now proceed and create a bad debts expense account. You can have this account from your Chart of Accounts.  

Once done, create a bad debt item from your Products and Services. You can see this option from the Settings (⚙) icon. You can now create a credit note for the bad debt and then apply that to the invoice.

Here’s how to create a credit note for the bad debt: 

1. Go to the + New button and select Credit note or Give credit.
2. Select the customer from the Customer ▼ drop-down.
3. In the Product/Service section, select Bad debts.
4. Enter the amount you want to write off.
5. In the Message displayed on statement box, enter Bad Debt.
6. Click Save and Close.

To apply that to the invoice: 

1. Go to the + New button and select Receive payment.
2. Add all the information needed.
3. Select the invoice from the Outstanding Transactions.
4. From the Credits section, select the credit note.
5. Select Save and Close.

Check this article for more information: Write off bad debt in QuickBooks Online. 

This will show as updated on the current VAT return. Also, here’s more information on how to submit a VAT return in QuickBooks Online.

Let me know if there's anything that I can help. I'm always here to assist. Have a wonderful day!

Thanks for your help, I was on with a quickbooks adviser yesterday who assured me there was nothing that could be done to resolve the issue, I'll give it a try. 

Does a credit note effect any of the figures, profit/loss, income/outgoings.

Thanks in advance

Nick

You’re most welcome, @Nick-Flint66.

The credit note entered as a debit under revenues and credit under accounts receivable. Each credit note should be recorded and updated in the appropriate accounts to match the balance.

Since credit note is a posting transaction that can be applied to a customer's invoice as a payment or reduction, it'll affect the amount on your Profit & Loss report.

You can read this article that has information about customising financial reports that have ways to view all accounts by type: Customise reports in QuickBooks Online.

You can get back to us if you have any other concerns. I’m always right here to help Nick.

Hello Community Users, we just wanted to pop in and update this thread. If you want to edit or delete a transaction on an already filed VAT return and you are on the FRS scheme it is a case of creating a journal entry. We've included the help article here(as there are screen shots of how to and further links) just look at the edit/delete section We've included part of the explanation below as well.

Because of the way Making Tax Digital works on the Flat Rate Scheme, you can't edit or delete transactions in a return that has already been filed.

If you need to make changes, you'll need to create a journal entry to reverse the original transaction by reversing the amounts of the debits and credits. Then, if needed, create a new transaction with the correct information. The best way to make sure it's reversed correctly is to use the transaction journal for the transaction you want to change and reverse the amounts that are in the debits and credits column. Enter the applicable VAT code(s) in the VAT column of the journal entry next to the line(s) that had VAT in the original transaction.

Any questions just ask.