Cheers Ray.  I'd love to see your notes, but couldn't find where they were attached?  Many thanks in advance, as any help would be appreciated.  Best,  C

Seems that my link to our notes was not published.

They are here: https://bit.ly/2PHpGVA

Amazing, thanks Ray.  I'll go through them now!

Best wishes,

Charles

That's very helpful thanks, and having looked through your guide it does appear to do the same as my work around. 

So that's reassuring.

Rosie

I would also add the the PVA statements appear to be b******s too!

On 6th Feb they issued a statement for period to Jan 31st  which I used for the latest return.

On 6th Mar they issued another statement for Jan which has less entries, some duplicated to previous statement and one new entry. It's wrong. And I was expecting a clean Feb statement??

The original statement is no longer listed despite supposedly being available for 6 months.

What a s**t show! And who knows what you do for entries at the end of a month/period - where the statement is in one but your accounts entries are in another.

Good luck!

Scene the mind boggles!!!

Quick question on your 'example' journal entry.  Can I just confirm that the figure in the example, of £5,159.65 is the VAT value from your PVA statement, not the value of the goods imported during the period?

Many thanks,

C

That example value is the amount that the VAT detailed on your statement was calculated from.

i.e. Statement VAT / 0.2

The VAT code in the Journal will then put the correct VAT amount in Box 1 & 4 and the value in Box 7 (which is then negated).

forgive if I've mis understood but I think that the notes on the link result in the value of goods being counted in box 7 twice? once when posting the supplier invoice (if you use a Z code I think it counts the cost of the invoice on the VAT return, a Z code reflects that the invoice is VATable but at 0%).  In this situation the PVA monthly statement is used to record both the value of the imported goods and VAT.  You'll need to work back from the amount to VAT to get the correct value of imported goods and then cross check with supplier and courier invoices so that they are close enough.

I've watched this YouTube video

https://www.youtube.com/watch?v=DdYcoYQsoUY&t=525s

and I've followed the trainer's example.  You post the supplier invoice with no vat, so that it doesn't appear at all on the VAT return.

Then you follow the example in the notes.

entry 1 is cost of goods imported (estimated if needed), VAT code - PVA20% (or the substitute for now) - similarly using a special expense account.

entry 2 is cost of goods imported with a minus in front, code is No VAT - same expense account as entry 1

This then records value of goods in box 7 and the when PVA20% codes works, will add on and remove the VAT.

I've done this for Jan's report and seems to be correct.  Happy to be told if I'm wrong as I've spent soooo much time this year researching how to post this and was lost until I watched the video.

Thanks for the video link. Will check it out.

The answer is that yes you could indeed enter all the supplier and courier entries as No VAT.

Then once per VAT Period simply enter a single transaction with a 20% RC MPCC code to generate the correct entries in Box 1/4/7 for the return. You would however need to reverse this transaction (or at least part of it) afterwards so that your accounts are unaffected.

What I did was to enter supplier/courier invoices with a Z code (to populate Box 7).

The journal entry gets the PVA statement figures in and the second line in the entries subtracts the amount from Box 7. Therefore, my Box 7 entry is correct to my accounts entries but slightly out to the statement value (which I have no idea how they calculate...). Box 1 & 4 are spot on.

Your remarks are very helpful, as is the video PRspares!  Thanks a lot!

Hi, 

Just saw your post and I've been wondering the same thing ie. entering directly from PIVA statements in CDS (customs declaration service).  

My understanding is this might be needed, since the VAT on statement may not be 20% of the invoice value (Vat is charged on duty, transport etc which may likely not be part of the supplier invoice).

Did you get any further on this and if so are you able to provide a worked example of the journals/ postings you used?  

Nothing has come through on our PIVA statement yet but presuming it does in the next few days we will need to add to the Vat return in next few days. 

Thanks!

best thing I can suggest it to watch the video on YouTube, link a few posts up, it's from a quickbooks trainer and explains it step by step.  I found it really useful

Thats really useful. I have a few remaining questions if anyone is able to help;

1) The original supplier invoice doesn't have VAT since we are using PIVA.  Which VAT code is the correct one to use when posting that?

2) are the issues with the PV codes in QB not working fixed yet?

3) Has anyone successfully got a statement from CDS?  We've only recently had a transaction but it hasn't come through yet... what's the usual delay?

THANKS ;)

In the video the PVA 20% VAT code works correctly but currently it is (still) broken in QBO. The alternative code (discussed earlier) should be used.

However, I think the method in the video is broadly similar to what I proposed?

One fly in the ointment is the HMRC PVA reports themselves. They seem to be in a right mess.

Hi

Does anyone know if the PVA vat codes have been fixed yet?

You've come to the right place to know the status of the PVA VAT codes issue in QuickBooks Online (QBO), @janette4.

For the time being, the investigation for "Unable to save Bill/Expense using PVA 20% VAT code" is still in progress. However, you can apply two workarounds for this. The first one is to use the 20% RC MPCC code and note the transaction to change back to the correct code once resolved. Then the other one is to use No VAT, and note the transaction to change back to the correct code once resolved, and to create an exception if required.

In line with this, I encourage you to contact our Customer Care team. They can add your account to the list of affected users. This ensures you're in the loop about the investigation's status and its fix. You can provide the INV-53549 to our representative as your reference. Here's how:

1. Go to the Help menu.
2. If you're routed to the QB Assistant window, enter Talk to a human.
3. Select Contact a human.
4. Then, click Live Chat/ Call me back.
5. Enter a brief description of your concern in the What can we help you with? field.
6. Clicks Let's talk.
7. Choose a way to connect with us (i.e., Start a chat or Get a callback).

I've attached a screenshot below for your reference.

Also, when you set up VAT, QBO automatically sets up a list of common VAT codes for you. To know the complete list of codes, you can refer to this article: VAT codes and rates.

We appreciate your patience regarding this matter. In case you have other inquiries or tax concerns, let me know in the comments below. I’ll be around to back you up. Have a good one and keep safe.

Hi :) 

As we are now in June and the issue has not been resolved, could you please explain what is the difficult IT people at QuickBooks are facing? It may be that there is somebody on the forum who may help.

As for us mortals, we struggle to understand why adding a new VAT code functionality should be so difficult.... obviously there must be something more 'complicated' than just adding a new VAT code with its dependancies.

It would be good to know.

ASAP

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@EmmaM wrote:

Hi CharlesS, It is purely a temporary way for it to calculate the right percentage on the invoice once this is resolved you can amend back to the correct code so the return records correctly, we are working to get this resolved ASAP

 

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I know how inconvenient it is when something isn't working on your end, Mostropovich.  

The most recent update that I have is that our Engineering Team is actively working to determine why users getting this issue. We are still investigating this unexpected behavior. 

Our engineers are all hands on deck working together for an immediate fix to sort everything out.  

To be notified about the latest status of this matter, I recommend contacting our Customer Care Team. Please provide the investigation number 53549 as the reference for your call. This way, you can receive an email once any updates on this issue are made available.  

You can contact them by following the steps shared by my peers above. 

Your patience and understanding in this situation are much appreciated. Stay safe!

Is this issue now resolved by Quickbooks?

Hello Community Users! We just wanted to add to this thread to confirm the PVAT codes are working correctly. Any concerns at all with the codes please feel free to add to this thread. We'd be happy to help in any way that we can.