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Hi davidpgv
It is not possible to directly account for group VAT within QuickBooks.
You could take out four basic subscriptions, amalgamate the figures of the three and submit via the fourth using the bridging tool, you would then mark the three returns as marked as filed, not submitting to HMRC.
You could have three subscriptions and make two singular VAT adjustments on one of the subscriptions to account for the figures in the other two. You will have to mark the other two returns as filed not submitting to HMRC.
You could subscribe to one account, the Plus product, and set each company up under a class. The account would then have one figure the VAT and you will be able to run separate P&L's by class however you would not be able to run a separate balance sheet, trial balance or general ledger for each company, so this suggestion may not be a suitable resolution.
We have to make you aware that the above are only suggestions and that we are not accountants and you would have to qualify any of the suggestions with an accountant.
Our products are evolving constantly and we will create a product enhancement request to submit your suggestion.
Hi davidpgv
It is not possible to directly account for group VAT within QuickBooks.
You could take out four basic subscriptions, amalgamate the figures of the three and submit via the fourth using the bridging tool, you would then mark the three returns as marked as filed, not submitting to HMRC.
You could have three subscriptions and make two singular VAT adjustments on one of the subscriptions to account for the figures in the other two. You will have to mark the other two returns as filed not submitting to HMRC.
You could subscribe to one account, the Plus product, and set each company up under a class. The account would then have one figure the VAT and you will be able to run separate P&L's by class however you would not be able to run a separate balance sheet, trial balance or general ledger for each company, so this suggestion may not be a suitable resolution.
We have to make you aware that the above are only suggestions and that we are not accountants and you would have to qualify any of the suggestions with an accountant.
Our products are evolving constantly and we will create a product enhancement request to submit your suggestion.
Thanks for your reply.
However, given that the reality of group vat returns being filed via MTD has been around for a long time, its very disappointing that QB dont have an efficient solution. The idea of purchasing x number of additional licences seems very combursome.
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