Hey there, @KCBFUK.
Yes, you can enter a journal entry to record the values from your MPIVS on QuickBooks. I'd recommend seeking professional advice from your accountant about this. They can help you properly handle this type of scenario and make sure the boxes on your VAT return are correct. If you don't have one, I can help run a search.
Here's how:
- Visit the ProAdvisor site.
- Enter your city or ZIP code in the Location field. It will display a list of accountants or bookkeepers near you.
- You can also filter the service provided, industry served, and product supported to narrow down the results.
I’m adding a guide on how to create PVAT 20% and 0% codes: PVAT codes.
In addition, you can check out this article for further guidance about the standard VAT codes listed in QuickBooks: Common VAT Codes.
Let me know in the comment section if you have any other concerns or questions. I'll get back to you as soon as I can. Stay safe.
