Hi there, @Koizumi008.
I'm here to help you with VAT adjustment in QuickBooks Online.
To reflect credit you have from the previous month, you need to enter adjustment QuickBooks.
When adjusting sales tax, use the appropriate account type. If you need to pay more sales tax, set up an expense account; if you need to pay less, set up an income account.
Here's how:
1. Select the Gear icon at the top and select Chart of accounts.
2. Select New at the top right.
3. From the Account Type dropdown, select Income or Expenses.
- If you need to decrease your sales tax due, set up an income account.
- If you need to increase your sales tax due, set up an expense account.
4. Select the account’s Detail Type.
5. Name your adjustment account (for example, "sales tax due increase").
6. Select Save and Close.
To create an adjustment, follow the steps below:
1. Visit Taxes.
2. After locating the tax period that needs to be adjusted, click Prepare return.
3. Choose the Adjust against the entry that needs to be changed.
4. Choose the Tax rate and the Adjustment date.
5. To adjust sales tax, choose the Adjustment account.
6. The amount of the adjustment.
7. Notes can be entered in Memo, then saved.
Furthermore, I recommend reaching out to your tax advisor they can guide you on what proper accounts to use.
In addition, to prevent late returns and additional fees, QuickBooks Online keeps track of all of your payment due dates in one place. You can review what you owe first to ensure that everything adds up. Then, you can complete your tax form using the most recent information from QuickBooks. Check this article for reference: File your sales tax return and record tax payments in QuickBooks Online.
Please let us know if you have any questions. I'll be glad to get back and answer. Take care!
