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Everything you need to know about banking in QuickBooks Online - Discover more
Nthuli
Level 1

Am on quickbooks 2016.I cant get my vat report on purchase but sales is okay. help!!

Hi all,

Am on quickbooks 2016 abit of  an old version. My challenge is vat reports for purchases are not showing but sales are showing.

All the bills have been posted with vat . What could possibly be the issue?

 

Regards

Fred

1 REPLY 1
TirzahC
QuickBooks Team

Am on quickbooks 2016.I cant get my vat report on purchase but sales is okay. help!!

Hello there, Nthuli.

 

QuickBooks is not designed to track sales tax automatically on non-sales transactions. This means that the program doesn't have a specific report for VAT on purchases. When it is time to pay their sales tax, they'll have to use the Chart of Accounts to can see the liability that has been accrued.

 

We can track sales tax on purchases as an expense and as a liability. Here's how: 

 

  1. Go to the Company menu and then select Chart of Accounts.
  2. Select New.
  3. In the Choose Account Type window, select Expense then click Continue.
  4. Enter the Account Name and other details then click Save & Close.

 

As a liability: 

 

  1. Go to the Company menu and then select Chart of Accounts.
  2. Select New.
  3. In the Choose Account Type window, click the Other Account Types drop-down then select Other Current Liability.
  4. Click Continue.
  5. Enter the Account Name and other details then click Save & Close.

 

Here's an article you can refer to for more details about setting up and recording purchase taxes.

 

Additionally, I've included the following materials below to help you organise your chart of accounts in QuickBooks Desktop:

 

 

Let me know if you need anything else. I'm always here and ready to help. Have a nice day!

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