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ZM6
Level 2

VAT exception help

Hi

I'm new to QuickBooks online. I've always used QuickBooks desktop before.

I have realised that QBs does not include late VAT claims when filing the VAT return. I am about to file the VAT for July to Sept. However I've entered some bills dated in June and they aren't included. I've seen they are on the exception report. How is best to go about adding these please to my return.

Thank you

Solved
Best answer October 30, 2021

Accepted Solutions
MaryLandT
Moderator

VAT exception help

I can show you where the Adjust link is on your QuickBooks account, ZM6.

 

You can make an adjustment when filing your returns. Here's how:

 

  1. Click Taxes, then go to the VAT tab.
  2. Select the VAT return, then click Prepare return.
  3. Click the Adjust link next to the box you want to adjust.
  4. Fill in the necessary fields, then click Save.

I'm adding this link for detailed steps: Make VAT adjustments in QuickBooks Online. It shows how to adjust your VAT liabilities. 

 

Please know that any manual adjustments will affect the VAT control or VAT suspense account. If you're unsure of the adjustment, I suggest seeking assistance from your accountant. This is to ensure your books have accurate balances. 

 

If there's anything else that you need, please don't hesitate to leave a comment below. I'm always right here to help manage your VAT returns in QuickBooks.

View solution in original post

6 REPLIES 6
Ashleigh1
QuickBooks Team

VAT exception help

Hello ZM6, 

 

Welcome to the Community page, 

 

So it will be included in the return, it will just be in the exception part of it, you don't need to do anything  as it is already part of it. If you have entered them after a previous filing then it will be brought into the vat exceptions for you that is how Quickbooks works. 

ZM6
Level 2

VAT exception help

Hello

Thank you for your help. I've also got another problem - on the VAT Exception Report there are three expense entries that I've deleted then recorded. However when i go into them the message i get is that they are missing or deleted. So this means my VAT control account is different to the VAT return. They show up on the Exception report but not in the  VAT control account. Any ideas what i should do. Maybe a VAT journal?

Hopefully someone has come across this before.

Thank you

Rubielyn_J
QuickBooks Team

VAT exception help

Thanks for getting back to this thread, @ZM6. Let me clarify things about your VAT Exception Report.

 

When preparing VAT returns, you may notice a column titled Exception Amount in QuickBooks Online. The column represents transactions you have previously filed for but have since changed, deleted, or added. This is to ensure that no VAT collected (or credits earned) are missed or duplicated.

 

You can create an adjustment if the control account is different from the VAT return. To do this, use the adjust link to increase or decrease the amount as necessary. But before doing so, consult your accountant to ensure that your reports are correct after the adjustment. They can also view these adjustments or previous adjustments by going to the COA and searching for the accounts you've made adjustments to.

 

For more information, you may review this article: VAT exceptions and reports in QuickBooks Online.

 

Additionally, let me share this link to help you submit a VAT return in QuickBooks Online. It also covers some links to know if you're eligible for Making Tax Digital.

 

Feel free to comment down below if you have other questions about managing VAT exceptions and reports in QuickBooks. I'll be happy to assist you again. Keep safe and have a good one.

ZM6
Level 2

VAT exception help

Hi

Thank you for your reply. I'm in QuickBooks but can't see where the adjust link is?

MaryLandT
Moderator

VAT exception help

I can show you where the Adjust link is on your QuickBooks account, ZM6.

 

You can make an adjustment when filing your returns. Here's how:

 

  1. Click Taxes, then go to the VAT tab.
  2. Select the VAT return, then click Prepare return.
  3. Click the Adjust link next to the box you want to adjust.
  4. Fill in the necessary fields, then click Save.

I'm adding this link for detailed steps: Make VAT adjustments in QuickBooks Online. It shows how to adjust your VAT liabilities. 

 

Please know that any manual adjustments will affect the VAT control or VAT suspense account. If you're unsure of the adjustment, I suggest seeking assistance from your accountant. This is to ensure your books have accurate balances. 

 

If there's anything else that you need, please don't hesitate to leave a comment below. I'm always right here to help manage your VAT returns in QuickBooks.

View solution in original post

ZM6
Level 2

VAT exception help

Thank you very much. Brilliant that should work fine and I didn't realise you could do that. This programme is so different to the desktop!

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