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Hi, sid.
Yes, QuickBooks allows you to file your VAT return with a negative amount. However, keep in mind that Box 6 of your VAT return should only show taxable sales minus the VAT amount. To ensure that you have the correct figures, you should run the VAT Detail Report to see all the transactions involved.
I also recommend consulting an accountant to help you review the amounts reflected on your VAT return and to make sure everything is accurate.
I've added these resources to learn more about VAT returns:
Let me know if you have any further concerns or questions about it. I'll gladly assist you.
Hi, sid.
Yes, QuickBooks allows you to file your VAT return with a negative amount. However, keep in mind that Box 6 of your VAT return should only show taxable sales minus the VAT amount. To ensure that you have the correct figures, you should run the VAT Detail Report to see all the transactions involved.
I also recommend consulting an accountant to help you review the amounts reflected on your VAT return and to make sure everything is accurate.
I've added these resources to learn more about VAT returns:
Let me know if you have any further concerns or questions about it. I'll gladly assist you.
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