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Nalika
Level 2

VAT Suspense and VAT control account

Hi - My VAT suspense account is showing an accumilated negative balance. this should be 0.00 when reconciled isn't it? the reason been - when I record payment for VAT , it doesn't record it from the actual bank account the money has gone out from. so I need to record anothe payment out from the bank account it self to clear bank transactions. this creates duplicate entries on VAT suspense account. how do I solve this?

 

1 REPLY 1
Ashleigh1
QuickBooks Team

VAT Suspense and VAT control account

Hello Nilika, 

 

Welcome to the Community page, 

 

What you need to do is delete any duplicate payments, when recording the VAT payment from the VAT center there is a drop-down field to choose the payment account. As long as you are selecting the correct bank account then it will be fine.