Ensuring your records are accurate is vital, Martin. Let me guide you through correctly accounting for your payments in QuickBooks Online.
Migrating data from Sage has limitations, including potentially removing your recorded payments. To rectify this, you'll need to record the VAT return payments in QuickBooks manually.
Here's how to record a VAT payment:
- On the left navigation panel, hover on Taxes.
- Select VAT.
- Go to the dropdown menu next to the return.
- Click Record Payment.
- Choose the bank account you used to pay HMRC.
- Enter the payment date and amount in the appropriate fields. You can also add a memo for reference.
- Hit Save.
For detailed guidance, refer to this helpful resource: Record a VAT payment.
Additionally, for future reference on managing your finances, here's a useful article: Use reports to track cash flow.
If you have more questions about accurately recording your payments in QuickBooks, feel free to reach out again, Martin. The Community is always here to assist you. Take care!
