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Dogboy
December 7, 2021
Question

Posting No VAT invoices (Not shown on VAT returns)

  • December 7, 2021
  • 1 reply
  • 0 views

Hi,

 

I have a simple question which I cannot find the Answer to.

If I have an invoice from a supplier who is NOT vat registered how do I post the invoice in QB with regards to the VAT setting. I have entered all invoices with no vat (As in they are not registered) as NO VAT but when I run the VAT return it does not account or show these transactions in the return. Is that right? I thought that all purchase invoice transactions, with or without vat should be included in the VAT return.

Thanks

John

1 reply

Adrian_A
Adrian_A
December 7, 2021

Hello there, John.

 

I'm here to share some information when running reports in QuickBooks Online.

 

Either the VAT 100, VAT 101, VAT Detail, VAT Exception, or VAT Liability reports will show the breakdown of the transactions that have VAT amounts. To pull up the data for the items that have no VAT, you can run the No VAT transactions report.

 

From there, you can customise it to change the column report. 

 

Additionally, these resources will guide you on how to keep accurate records of the tax that you collect and pay. From there, you’ll learn about submitting a tax return and other VAT related-activities.

 

 

Don't hesitate to get in touch with us if you have other concerns with VAT. I've got your back!

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