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P
plush 777
February 21, 2022
Question

VAT on purchases

  • February 21, 2022
  • 1 reply
  • 0 views

I have set vat on purchases

However, in the vat report, I do not see the vat return on the purchases: it says paid on purchases ZERO

 

How to set it correctly. 

- bill: with vat - I can see vat separately

- payment: only payment in total possible - here comes VAT paid ZERO

 

report: zero purchases zero vat

1 reply

A
AbegailS_
February 21, 2022

 

Hi there, @plush 777.

 

Let me share some insights about the zero rate VAT that are showing on your tax report in QuickBooks Online.

 

At times, some goods and services are zero-rated. This means they are taxable for VAT, but the VAT rate is zero percent. Sometimes the reduced rate only applies in certain circumstances, or it may depend on who the customer is. You may refer to the HMRC's website for complete details about this rule.

 

For now, I recommend reviewing the VAT set up again to see if they are all correct. If there are incorrect ones, you may modify them to keep your records accurate.

 

if you're still getting the same data on your report, let's start  accessing your QuickBooks account using a private browser or incognito browser. This way, we can isolate this unexpected behavior for possible a browser-related issue.

 

For additional reference about Sales GST/VAT read these articles:

Leave a comment below if you have any other questions. I'm a few clicks away to help. Have a good day

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