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adz
Not applicable

Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quarter" doesn't align with my company's VAT quarter.

My VAT quarter is set to start in Feb, and when I go through the taxes module, it'll run the reports to my VAT quarters.

However, if I'm in the report module and open up the VAT Reports, I have to manually set the dates to match my VAT dates, because "This Calendar Quarter" and "This Financial Quarter" do not align with my VAT quarter.

This also makes it impossible to my knowledge to schedule a VAT Detail report to be emailed at the end of each VAT Quarter, which is ultimately what I'm trying to achieve.
Solved
Best answer 05-06-2019

Accepted Solutions
QuickBooks Team

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Hi there, adz.

 

The This Financial Quarter period in the Reports module is based on the First month of the financial year you set in your Accounting settings. For VAT reporting, please be sure to set your First month of tax year correctly, so your report will follow the same thing.

 

 

On the other hand, we're unable to set a report to be emailed on a quarterly basis. What's available are Daily, Weekly, Monthly, and Twice a Month.

 

 

If you have other questions, you can always visit us back here.

7 REPLIES 7
QuickBooks Team

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Hi there, adz.

 

The This Financial Quarter period in the Reports module is based on the First month of the financial year you set in your Accounting settings. For VAT reporting, please be sure to set your First month of tax year correctly, so your report will follow the same thing.

 

 

On the other hand, we're unable to set a report to be emailed on a quarterly basis. What's available are Daily, Weekly, Monthly, and Twice a Month.

 

 

If you have other questions, you can always visit us back here.

adz
Not applicable

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Thank you Jess, much appreciated. 

 

As an aside, by choosing the monthly option, interval set to 3 months on the first day of the month, and the report set to "last financial quarter", in theory, I expect the behaviour to be identical to a quarterly schedule.  The only thing missing is to be able to set the start date for the first run which I'd like on 01/08/19, but I can manually recreate the schedule in July to make that happen. 

 

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QuickBooks Team

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Hey Adz,

 

You are effectively correct, come back in July to make it happen for the next schedule and all the ones moving forwards.

 

It may be worth adding a suggestion through out Feedback options, which can be found on your QBO account, click on the Cog Wheel then Feedback. I can see where a Start date would clearly be more useful in this case.

 

 

Not applicable

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Same problem: The VAT period starts when registered and set by HMRC, in my case this is neither January nor my Financial year. My tax month is May, my VAT month is June. Can't have these set automatically which is pain when the software is supposed to help us with our accounts.

QuickBooks Team

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Hello there, roy-potter

 

Thanks for checking in with us today. I'm here to share some information about setting up VAT in QuickBooks Online (QBO).

 

You'll need to manually set up these information from your Accounts and Settings and VAT settings. Below are the steps on how to do it:

 

  1. Go to Gear icon.
  2. Choose Accounts and Settings.
  3. Click the Advanced tab.
  4. From the Accounting tab, click the pencil icon.
  5. Change the correct financial year, from First month of financial year.
  6. Click Save.

If you wish to modify the VAT month, you can do this by going to the VAT settings. Let me provide the steps on how to do it below:

  1. Go to Taxes.
  2. Click Edit VAT.
  3. Choose Edit settings.

You can have this article handy for the steps on how set up and edit VAT settings, VAT codes and VAT rates.

 

Always feel free to drop me a reply below if you have additional questions about managing VAT's in QuickBook Online and I'd be glad to assist you further.

Frequent Explorer *

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...


@Charies_M wrote:

Hello there, roy-potter

 

Thanks for checking in with us today. I'm here to share some information about setting up VAT in QuickBooks Online (QBO).

 

You'll need to manually set up these information from your Accounts and Settings and VAT settings. Below are the steps on how to do it:

 

  1. Go to Gear icon.
  2. Choose Accounts and Settings.
  3. Click the Advanced tab.
  4. From the Accounting tab, click the pencil icon.
  5. Change the correct financial year, from First month of financial year.
  6. Click Save.

If you wish to modify the VAT month, you can do this by going to the VAT settings. Let me provide the steps on how to do it below:

  1. Go to Taxes.
  2. Click Edit VAT.
  3. Choose Edit settings.

You can have this article handy for the steps on how set up and edit VAT settings, VAT codes and VAT rates.

 

Always feel free to drop me a reply below if you have additional questions about managing VAT's in QuickBook Online and I'd be glad to assist you further.



@Charies_M wrote:

Hello there, roy-potter

 

Thanks for checking in with us today. I'm here to share some information about setting up VAT in QuickBooks Online (QBO).

 

You'll need to manually set up these information from your Accounts and Settings and VAT settings. Below are the steps on how to do it:

 

  1. Go to Gear icon.
  2. Choose Accounts and Settings.
  3. Click the Advanced tab.
  4. From the Accounting tab, click the pencil icon.
  5. Change the correct financial year, from First month of financial year.
  6. Click Save.

If you wish to modify the VAT month, you can do this by going to the VAT settings. Let me provide the steps on how to do it below:

  1. Go to Taxes.
  2. Click Edit VAT.
  3. Choose Edit settings.

You can have this article handy for the steps on how set up and edit VAT settings, VAT codes and VAT rates.

 

Always feel free to drop me a reply below if you have additional questions about managing VAT's in QuickBook Online and I'd be glad to assist you further.



@Charies_M wrote:

Hello there, roy-potter

 

Thanks for checking in with us today. I'm here to share some information about setting up VAT in QuickBooks Online (QBO).

 

You'll need to manually set up these information from your Accounts and Settings and VAT settings. Below are the steps on how to do it:

 

  1. Go to Gear icon.
  2. Choose Accounts and Settings.
  3. Click the Advanced tab.
  4. From the Accounting tab, click the pencil icon.
  5. Change the correct financial year, from First month of financial year.
  6. Click Save.

If you wish to modify the VAT month, you can do this by going to the VAT settings. Let me provide the steps on how to do it below:

  1. Go to Taxes.
  2. Click Edit VAT.
  3. Choose Edit settings.

You can have this article handy for the steps on how set up and edit VAT settings, VAT codes and VAT rates.

 

Always feel free to drop me a reply below if you have additional questions about managing VAT's in QuickBook Online and I'd be glad to assist you further.


QuickBooks Team

Re: Is there a simple way to set a report period to "This VAT Quarter"? The "This Financial Quart...

Hello jh20,

 

Welcome to the Community. It would be my pleasure to assist you with your concern about VAT in QuickBooks Online.

 

If you're trying to key in VAT returns from the prior months, you may need to enter the transactions first in QuickBooks. After entering the information, you can mark the period as filed from the VAT section.

 

Here's how:

 

  1. On the left panel, click Taxes.
  2. Go to the VAT tab.
  3. Go to Returns.
  4. Click Prepare return.
  5. Click the drop-down arrow next to Submit to HMRC.
  6. Click Mark as filed.

Check out this sample screenshot for your visual guide:

 

 

I have some support articles here that I'm sure will help you with your VAT in the future:

It would also be best to seek expert advice from an accountant on what start date you select for the Current VAT Quarter. This way, you'll be able to ensure your books will be accurate in the future.

 

Feel free to let me know if you have any followup questions concerning the VAT information within QuickBooks. You can get back to me through this thread.