VAT
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We have used MMC Convert to transfer client records form Quickbooks Uk to Quickbooks Ireland. The Vat filing report is incorrect & MMC are unable to help.
I have entered some bills / expenses today and they have not been calculated on the paid on purchases vat report.
example, QB posts gross £120 RC VAT £24 RC VAT -£24 total £120 - 20% CIS £20 net pay £100 Gross should be £125, VAT and CIS £25, I had to manually correct all entries for this subcontractor
Hi All I understand that VAT is calculated per line item for a given invoice and then is rounded to 2 decimal places and I can calculate this correctly by hand. However when I add a X percent (in my case 2) discount on my invoice no matter how I calculate the VAT (so 20% of the 2% on the discount amount, or 20% of the 2% per line item pre quantity, 20% of the 2% per line item post quantity...) I cannot calculate the same number.. I have multiple invoices and no matter what I do some methods work for some but not for others to calculate correectly. Does anyone know the correct way discount percentages are applied to invoices? Invoices are entered ex vat. Many Thanks
I would like to consolidate my income from my business and property for MTD and not sure how to do that via QB.
The errors are large!!
I want to file vat of previous year first but quickbooks just showing filling option of current year
I'm completing a VAT return for a client (has been registered a few years so this is nothing new). They are using the standard (accruals) VAT scheme. Everything is done, the VAT return generates with the correct info but when I run the "transaction detail by VAT code" report it says "your selection doesn't have any info" and displays a blank report. The quarter dates are correct and previous quarters it has always rendered and displayed correctly. Can anyone suggest what I can do see this information please? It is quite an important part of the VAT return verification and records and a blank form is not helpful when there appears to be no other way to access this information.Thank you
My VAT return when processed in the VAT section of Taxes ws for £87.20. I have used the record refund to add the payment, but the payment from HMRC was for £87.02, so the taxes VAT section is noting 2p owed to the tax man now - how do I record the interest part of the refund
In a previous quarter, for some reason the sales receipts recorded on a cash basis were not reflected in the "View VAT details" section. These receipts were correctly categorized as sales income but were not captured in the VAT submission. Could you please advise how I can include these receipts in my next VAT return? I would appreciate a step-by-step guide on the process to ensure they are properly accounted for. Thank you for your assistance.
When I click on the link to this report , it is now blank, although I did use quickbooks to complete my tax return during that year.
Total Income figure is showing the same as CIS standard income (20%) figure. Surely the total income should be before the CIS deduction is made?
Clicking on taxes tab only takes me to page ‘ set up VAT’ which is not applicable to my business
Hi I have paid the VAT on my car repairs the actual work was paid by the insurance company but I was responsible just for the VAT. It shows as a transaction in QB but I need to log it as a 100% VAT payment as I should be able to claim back the whole amount. How do I log this in QB and how do I record it as 100% VAT for the purpose of the VAT submission.
HiI've started a new job and my predecessor has been using both s20 and s vat codes for sales and purchases.Is there a right and wrong for when each code should be applied please?
Stopped adding 20% Standard VAT why ? How can I get it back ?
I have had to do this via HMRC Basic PAYE tools previously but this isn't working at the moment and just doing it in QB doesn't appear to notify HMRC as they write telling me we have underpaid
