Question

HOW DO I SEPERATE VAT ON AUTO BANK DEPOSITS?

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Hi bewleysblackrock!

I'm here to help you in handling your downloaded bank transactions.

QuickBooks Online international versions have an option to add VAT to downloaded transactions when you categorize them. You can follow these steps:

Go to the Banking/Transactions menu and select Banking.
Select the bank, locate the downloaded deposit and select it to expand the view.
You'll see the VAT drop-down. From there, you can select the VAT rate.
Enter the details required, then tap Save.

Once done, it'll automatically reflect on your VAT Payable account.

Also, I've added some links you can check. These will explain more on what to do with the downloaded transactions and how to reconcile an account:

Need more help? Please keep on posting here. We'll respond as soon as we can.

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