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Glad to see you here, @Nick_R,
To shed some clarification about this, those downloaded entries in the Banking tab that you match to the transactions in QBO will not affect your VAT dues. Online Banking and VAT processing are completely unrelated features. The main purpose of matching is to ensure the data or transactions in QuickBooks is similar or reconciled to the bank statement.
This article will explain how categorising bank entries work in QBO: Add and match downloaded bank transactions [Video]
On the other hand, your VAT dues is directly affected by the activities you do in the Taxes menu. Therefore, your VAT liability or balances will only reduce if you make a payment or adjustments in the VAT page. To learn more about VAT processing, see this Resource page: Pay and manage VAT in QuickBooks.
Let me know if you have additional question or clarification. I'll be right here if you need anything else. Have a nice day!
Hi Jen,
Thanks for the reply. Panic over. I fired up Quickbooks this morning, and the VAT page was now showing the change in the liability I had been expecting.
It turns out that just returning to the VAT page doesn't refresh the figure during a session (despite the whirring green circle). It requires a manual browser refresh before the figure actually recalculates and displays correctly. This might just be a browser cache issue, but the whirring circle threw me.
All good now though.
Many thanks, Nick
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