I'm here to provide the steps to reclaim your VAT in QBO, carol.griffiths,
Before we start, may I know if you received a credit for a VAT overpayment? If so, you can create a tax adjustment to reduce the liability for that quarter. Here's how:
- From the navigation panel, click VAT.
- Click on Prepare VAT.
- Press the Adjust icon in the VAT line that you want to change.
- Enter the Adjustment Date and VAT rate.
- Choose an account from the Adjustment Account drop-down list.
- If you are making the adjustment because you received a credit and you owe less VAT to the government, choose an income account that you create for this purpose.
- If you are making the adjustment to include a fine, penalty, or interest on a VAT return, choose an expense account, such as Interest Expense or Non-deductible Penalties.
- In the Amount section, enter the amount of the adjustment.
- Add a memo to describe the adjustment.
- Hit Save.
I would also recommend contacting HRMC to get additional advice on how to handle a VAT reclaim. Here's an article to guide you on how to use the VAT feature in QBO UK: VAT: Getting Started.
Please let me know if you have additional questions about the steps. I'm here to help you any time. All the best!
