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Hi there, @priyankac.
It's nice to have you here on the Community page. I can share with you the steps on how to post your transactions to the correct account/s.
Usually, transactions with VAT rates/codes are posting depending on how the codes are created. The accounts under Sales and Purchases must be correct and the selection under Show tax or net amount on return line.
To correct this, you can inactive the vat codes, then add a new rate with the precise setup.
To make the VAT rate inactive:
Then, here's how to add a new rate:
After that, you can modify the codes associated to your bills and supplier credits.
For additional tips about managing VAT in QuickBooks Online, I recommend opening these links:
Moreover, you can check out the topics from our help articles for more resources while working with QuickBooks:
If there's anything else you need help with VAT codes and your VAT accounts, please let me know by adding a comment below. I'm just a few clicks away to help. Keep safe!
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