We're delighted to have you here, BeckyT1. Let me ensure you'll get the help you need and get this right for you.
Since the MTD shows as connected from your QuickBooks Online (QBO) account, let's ensure you've set up the VAT correctly from your company. Make sure to use the accurate VAT registration number and VAT scheme before setting up.
Once ready, you may follow the steps below to set up VAT settings. Here's how:
- Go to Taxes and select Set up VAT.
- Select the month you need to start calculating VAT.
- Select your filing frequency for VAT.
- Choose your accounting method.
- Enter your 9-digit VAT registration number.
- Tap the Flat Rate Scheme (FRS) box and enter the percentage and tax registration date.
- Select Next and click OK.
Otherwise, if your VAT returns and settings are already set up, let's ensure to review and check its details.
Additionally, I'd suggest running a VAT Detail Report to help us verify you've recorded all your payments from the past year. To guide you on how to run this report, refer to the steps below:
- Go to Reports from the left menu bar.
- Enter VAT Detail Report from the search bar.
- Change the reporting period and the accounting method.
- Click Customise if you wish to edit the data of your report.
- Once done, click Run report.
Moreover, you can check out this reference to guide you to get the most out of your financial reports: Customise reports in QuickBooks Online. It includes details on how to automate and export custom reports.
You're always welcome to reply in the comments below if you have additional questions about VAT taxes. We're looking to assisting you further. Keep safe, and have a good one!
