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Level 1

How do you record a VAT refund in quickbooks online?

 
4 REPLIES 4
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QuickBooks Team

How do you record a VAT refund in quickbooks online?

hi fernando.lanyog


Thank you for contacting Community.


If you have filed your VAT return within QuickBooks and the system already has it marked as filed in the taxes section, you can record the payment or refund there. To do this...


1. Click on 'Taxes' on the left of your QuickBooks account.

2. Locate the return under the Submitted or Filed section.

3. Click on the drop down arrow at the end of the line and select 'Record Refund'.

4. Fill out the required information and click 'Save'.


This will then record the payment as being refund to which ever bank account you selected.


If you have any further issues, please feel free to get in touch. Our contact details can be found here.



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Level 2

How do you record a VAT refund in quickbooks online?

How do you record a refund for a VAT return from last financial year before I started using quickbooks? Should I put it in as an other income or something else?

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Level 1

How do you record a VAT refund in quickbooks online?

I have the same question.

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QuickBooks Team

How do you record a VAT refund in quickbooks online?

Hello there, @atki and @ Periclase.


Welcome to the QuickBooks family. Let me point you in the right direction on how to record the VAT refund.


You can use the Journal Entry feature to enter the transaction. This is to ensure the records are in tiptop shape.


We believe that every business is distinct, especially on the accounts used to handle each transaction. For this reason, I recommend contacting your accountant first to help identify the correct posting account for Debit and Credit.


This information should get pointed on the right track. Stay in touch if you have any follow-up questions or concerns about QuickBooks. Please know I’m here to help.