I can assist you in verifying whether your VAT feature is enabled or configured in QuickBooks Online, Khagiandco.
Check your QuickBooks settings to ensure that VAT tracking is enabled and configured. Sometimes, VAT settings need to be adjusted or activated in the accounting software to appear in the Banking transaction section.
If you haven't set this up first, we can follow the steps below:
- Go to Taxes and select VAT.
- Or, go to Get Things Done and select Set up VAT in QuickBooks.
- Select the month you need to start calculating VAT from.
- Select your filing frequency for VAT. This is how often you will submit VAT returns to HMRC.
- Choose your accounting method.
- Select Standard (also known as accrual) if you record income and expenses when you send the invoice or receive the bill, regardless of whether the invoice or bill was paid or not.
- Select Cash if you record income and expenses when you receive the payment or pay the bill.
- Enter your 9-digit VAT registration number.
- If applicable, select the Flat Rate Scheme (FRS) box and enter the percentage and tax registration date.
- Select Next, and then OK.
If you have already enabled this option and still getting the same issue, we'll try to resolve this by performing the basic troubleshooting method.
First, we can log in to your account via a private browsing window. It can help us identify if the issue is related to your browser.
Here are the keyboard shortcuts:
- Google Chrome: Ctrl + Shift + N
- Mozilla Firefox: Ctrl + Shift + P
- Microsoft Edge: Ctrl + Shift + N
- Safari: Command + Shift + N
Furthermore, we can log in via other suggested troubleshooting steps, such as clearing the cache and other supported browsers in resolving this case within your company.
I'll add these resources for your guidance in handling your banking transactions:
Keep me posted if you have other concerns with your VAT concerns in QuickBooks Online. Keep safe.
