Action Required: Review VAT for transactions created or modified on the Banking page on 3 October 2025

On Friday, October 3, 2025, between 11:00 AM and 8:30 PM AEST, a system issue may have impacted VAT calculations on transactions.

While the issue has been resolved, if you posted transactions from your bank feed, mobile or synced transactions from a third-party application during this window, VAT may not have been calculated correctly. Please note that bank-to-bank transfers (e.g., Monzo to Barclays, or transfers between a business account and a savings account) and other non-taxed transactions were unaffected.

Action needed

Important: We recommend that you complete the steps below now to ensure your financial reports are accurate.

Find transactions posted during this time

• In QuickBooks Online, select Settings , then Audit Log (Take me there).
• Set the date range to From: 3 Oct, 2025 and To: 3 Oct, 2025.

For bank feeds (bank transactions)

• Follow this link to complete the steps in product
• Undo the affected bank-feed transaction(s) and re-post. Re-posting will correctly calculate the VAT associated with these transactions.
• To do this: In Banking, select the tile for the bank or credit card account you downloaded the transaction from, then open the Categorised tab.
• Find the transaction and select Undo in the Action column.

For transactions posted by a third-party app connection

• Delete the entry and re-sync it from your third-party app.
• This re-sync will correctly calculate the VAT associated with these transactions.

Repeat for all accounts

• Complete these steps for every account you own and for any client accounts.

For transactions created from mobile

• Delete the transaction and recreate it. This will correctly calculate the taxes associated with these transactions.

We’re here to help

We apologise for the inconvenience this may have caused and have taken steps to prevent this issue from occurring in the future.

For QuickBooks Online customers, our Experts are available. To reach us:

• Sign in to your QuickBooks account.
• From the Help (?) panel, enter a term or open any help article, then select Contact Us.

For more options, see How to get help with QuickBooks.