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Hello Community Users, Thanks for asking about adding pre-registration purchases on your first VAT return. We'd like to add clarification to the post here for future readers of the Community. In the case where it is the first return you can do an adjustment in Quickbooks in the relevant box in the return to account for the expense. You would need to create a VAT adjustment account to use for this in the chart of accounts and then go to the return and adjust the box. We'd recommend consulting with an accountant before doing this. More information on how to do a VAT adjustment can be found here
Any questions feel free to add to the thread.
Hello there, suzie13.
Thank you for posting here in the Community. I'm here to lend a hand with your concern about the old purchases in QuickBooks Online.
You will need to manually enter the transactions to collect their VAT return. When doing so, you may need to record them in the same order they were created or received.
In case you need an additional reference in the future about submitting VAT return, check out this article: Submit a VAT return in QuickBooks.
I'm always around if there's anything that I can help about VAT. Keep safe!
Hello Community Users, Thanks for asking about adding pre-registration purchases on your first VAT return. We'd like to add clarification to the post here for future readers of the Community. In the case where it is the first return you can do an adjustment in Quickbooks in the relevant box in the return to account for the expense. You would need to create a VAT adjustment account to use for this in the chart of accounts and then go to the return and adjust the box. We'd recommend consulting with an accountant before doing this. More information on how to do a VAT adjustment can be found here
Any questions feel free to add to the thread.
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