You can correct your VAT return by editing your VAT account, @info. Let me help you how to do it.
A VAT adjustment in QuickBooks Online ensures you have accurate records and pay or receive the correct amount of VAT owed.
Here's how:
- Go to Taxes, and select VAT.
- Next to the period you're submitting for, select Prepare Return.
- Next to the VAT line you'd like to change, select Adjust.
- Choose an Adjustment Date and Tax rate.
- Select Adjustment Account ▼.
- Choose an account.
- In the Adjustment amount section, enter the amount of the adjustment.
- Enter a Memo to describe the adjustment.
- Select Save.
For the add or subtract, it depends on the adjustment account you'll be using. I recommend consulting with your accountant to ensure everything is managed correctly and by accounting standards.
Don't hesitate to return to this forum or respond directly to this message if you encounter any further challenges with your VAT or other QuickBooks Online tasks. We're here to assist you with any aspect of QBO that you find challenging.