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P
PCN
May 2, 2019
Solved

Adding historic invoices to VAT return after registration

  • May 2, 2019
  • 1 reply
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So i have been using Quickbooks for 3 years. I bought a van last year which had vat on it but could not claim the VAT back for it as i was not VAT registered. I have just registered for VAT as of the 1st of April 2019. As it was within 3 years I can now claim the VAT on this item even though it was prior to the business being registered for VAT as of 1st April 2019. I cannot see anyway on Quickbooks of adding this invoice into the vat return as, as of this moment it shows only things from the 1st of April 2019 (as it should) and no buttons, options or anyway of editing the return EXCEPT on the submit screen BUT this is figures only and does not then show this on the record properly. Quickbooks themselves do not seem to have a clue either. Surely this is something everyone does when they first register for VAT so I do not see why this is so complicated/not achievable

Best answer by emmam6

Hello Community Users, we just wanted to pop in and add some clarity to this thread. If this is the first return in QuickBooks and you wish to claim for purchases made in a previous period, the best way to do this is to do an adjustment on the return. Make sure to check this article for more information about reclaiming the VAT: Set up and record purchase taxes. Please take note that backdating and reclaiming your VAT on purchases has an expiry date. You can visit the HMRC website here for more information about this process.

You can record your Purchase VAT by following these steps:

  1. Go to Taxes and select VAT (Take me there).
  2. On the VAT page, select Prepare return for the period you are submitting for.
  3. Select Adjust in the VAT line that you want to change.
  4. Choose an Adjustment Date and Tax rate.
    • Note: If you do not select the appropriate VAT code it will not be reflected on your reports or your return.
  5. Select the Adjustment Account ▼ dropdown menu and choose an account.
    • If you are making the adjustment because you received credit and you owe less VAT to the government, choose an income account that you created 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.
  6. In the Adjustment amount section, enter the amount of the adjustment.
  7. Enter a Memo to describe the adjustment. Although optional, this is good practice as it will help to identify the adjustment if needed. See more detail in this article

 

1 reply

T
TaliaI
May 2, 2019

Hello PCN,

 

Welcome to the Community - thank you for your question!

 

Your two options are to either: date the transaction within your open VAT period and make a note within it of the correct date and why you have changed it; or, make an adjustment when submitting the return to include the extra amount to reclaim.

 

Please let us know if you have any further questions.

 

Thanks,

 

Talia

E
emmam6Answer
July 11, 2023

Hello Community Users, we just wanted to pop in and add some clarity to this thread. If this is the first return in QuickBooks and you wish to claim for purchases made in a previous period, the best way to do this is to do an adjustment on the return. Make sure to check this article for more information about reclaiming the VAT: Set up and record purchase taxes. Please take note that backdating and reclaiming your VAT on purchases has an expiry date. You can visit the HMRC website here for more information about this process.

You can record your Purchase VAT by following these steps:

  1. Go to Taxes and select VAT (Take me there).
  2. On the VAT page, select Prepare return for the period you are submitting for.
  3. Select Adjust in the VAT line that you want to change.
  4. Choose an Adjustment Date and Tax rate.
    • Note: If you do not select the appropriate VAT code it will not be reflected on your reports or your return.
  5. Select the Adjustment Account ▼ dropdown menu and choose an account.
    • If you are making the adjustment because you received credit and you owe less VAT to the government, choose an income account that you created 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.
  6. In the Adjustment amount section, enter the amount of the adjustment.
  7. Enter a Memo to describe the adjustment. Although optional, this is good practice as it will help to identify the adjustment if needed. See more detail in this article

 

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