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Level 1

VAT refund not posted

Hi, I'm new to QBO. I submitted my last VAT return using MTD. I have received a refund. How do I post it? When I go to Taxes, the VAT shows as paid (green tick next to it) but it doesn't allow me to post the refund onto my bank account. If I go to filed returns, there is nothing on that list. As I said, I submitted the return using MTD, it went through OK. I'm not sure of what to do now. Thanks in advance.
Solved
Best answer August 07, 2019

Accepted Solutions
QuickBooks Team

VAT refund not posted

Hey marlo13,  

 

Thanks for your post and welcome to the community.

 

Returns which are filed with a negative balance of VAT DUE (i.e. refund) are automatically marked as paid on the system - to record the refund click on the drop-down on the action column against the filing and 'Record refund'. Select the bank account, date, and amount received then save - this will the match to the payment in for-review if you have the bank connected.

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2 REPLIES 2
QuickBooks Team

VAT refund not posted

Hey marlo13,  

 

Thanks for your post and welcome to the community.

 

Returns which are filed with a negative balance of VAT DUE (i.e. refund) are automatically marked as paid on the system - to record the refund click on the drop-down on the action column against the filing and 'Record refund'. Select the bank account, date, and amount received then save - this will the match to the payment in for-review if you have the bank connected.

View solution in original post

Level 1

VAT refund not posted

Thank you GeorgiaC! So simple when you know howSmiley Happy Thanks again.