Good morning all.
We started using Quickbooks Online (UK) back in 2019 due to "Making Tax Digital" coming into force. The last 5 years we have literally only been using it to submit our quarterly VAT return via uploading a spreadsheet.
We are now at a point where we want to start using Quickbooks for all of our bookkeeping, invoicing etc. but I obviously have 5 years worth of VAT returns on there. If I leave them as open then our VAT suspense account is way off, but if I mark them as paid, it screws up our opening balance as there are no transactions to link the payments to.
I obviously don't want to have to sync 5 years worth of historic transactions to balance the books so what do I need to do with these old VAT returns? Is there a way to clear them off the system so I can effectively now start again from zero?
Any help would be greatly appreciated. Many thanks.
