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icecleaningco
Level 1

Vat doesn’t add up on QB. Ie: an inv for £40 should have VAT for £8, but only shows as £6.67 on QB. £2 out for every inv, adds up a lot and won’t tally for returns.

 
1 REPLY 1
Kristine Mae
Moderator

Vat doesn’t add up on QB. Ie: an inv for £40 should have VAT for £8, but only shows as £6.67 on QB. £2 out for every inv, adds up a lot and won’t tally for returns.

I'd like to help you with the VAT calculation, Icecleaningco. 

 

It looks like you're using Inclusive of Tax, that's why it shows £6.67 (refer to my screenshot).

 

SC.PNG

 

You'll have to select Exclusive of Tax, so you'll get £8. Just click the Amounts are drop-down arrow, then select the specific tax rate. I'll add the screenshot for better guidance.

 

SC1.PNG

 

The VAT return should provide the correct amount. Once you're ready to submit, I'll add the article with the steps. 

 

If there's anything else that we can do for you, please don't hesitate to drop a comment below. 

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