Great work on doing the migration process, @ell281. I'm here to help you file your VAT returns in QuickBooks Online.
While Dataswitcher can copy the values, it does not convert the VAT. This is because different software suppliers use different rounding algorithms, which can lead to differences in invoices and transactions. Dataswitcher also needs more information than what is available in most transaction stamps to do the conversion. Historical claims are handled uniquely and may cause issues in the long run.
During the data transfer, Dataswitcher treats VAT as a regular line item. It will copy the received VAT or paid VAT as a line item. This means the balances of the accounts will also be copied over unless they are cleared. Before the conversion, you need to keep the VAT report for your current quarter or month. This will help you to complete your first report in QuickBooks Online.
When the quarter or month is over and your VAT is due, let's start a new submission in QuickBooks Online. Just go to Taxes > VAT > Prepare return. However, you may need to make some adjustments as some information is still in your previous software, and QuickBooks cannot recognise it as VAT data. To do so, select Adjust and determine the amount to use next to every box on the return. You can copy the amount from an old VAT report from Xero.
Once done, prepare the correction by following the instructions in this article: Submit your first VAT report after your conversion to QuickBooks Online.
Furthermore, scan this guide to learn more about Post-conversion & submitting your first VAT filing and get answers to your questions: Our comprehensive guide to Dataswitcher.
Please let me know if you need more help navigating QuickBooks after importing data from Xero. Feel free to add more details by clicking the Reply option below.
