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K
ken_43
July 14, 2020
Question

On paying only VAT, how can I write in expense transaction? EX) we buy something from abroad, import tax was 0%, and VAT was 10%. I tried VAT payable, but error occure

  • July 14, 2020
  • 1 reply
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1 reply

Kristine Mae
Kristine Mae
July 14, 2020

You can create an expense transaction to record the VAT payment, Ken_43.

 

Just follow these steps:

  1. Click the New or Plus sign (+) button.
  2. Select Expense.
  3. Fill in the necessary fields.
  4. Click Save and close.

As always, I'd suggest conferring with your accountant on how to categorize the payment.

 

Let me also add the article on how to enter, edit, or delete expenses in QuickBooks Online as a future reference.

 

If there's something else that you need, please don't hesitate to click the Reply button.

 

K
ken_43Author
July 14, 2020

Dear Kristine,


Thank you very much for your quick response.

 

But I did it as you said, but I could not save like attached.

 

Can you check and give us advise?

Thank you
Ken

AlcaeusF
AlcaeusF
July 14, 2020

Thanks for getting back to us here in the Community, @ken_43.

 

Let me provide some clarifications about creating an expense in QuickBooks Online.

 

Currently, selecting the VAT Payable account to record the VAT is unavailable in the system. If you're unsure or in need of additional guidance of the account, it would be best to consult your accountant or a tax professional.

 

They'll be able to provide additional guidance to ensure you record it in QuickBooks correctly. Also, to assure your books will be accurate and error-free.

 

Meanwhile, I've attached some articles you can use to know more about VAT, like the frequently asked questions, as well as creating journal entries:

 

If you have additional questions or concerns while working in QBO, leave a comment below. I’ll be happy to help you out.

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