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S
Sarkin
May 5, 2022
Question

Bulk payments

  • May 5, 2022
  • 1 reply
  • 0 views

Hi, 

I am having a problem with QB working out the correct VAT. 
i invoice weekly but the company pays a bulk payment at the end of the month. The system doesn't recognise the bulk amount as corresponding with the individual invoices. 
When I work out the VAT I owe, it is a lot lower, almost double, than what it should be? I think this may be because the system is Charging VAT for the individual invoices aswell as the bulk one? 

1 reply

A
Ashleigh1
May 5, 2022

Hello Sarkin, 

 

Welcome to the Community page, 

 

Can we ask which accounting method you use, is it cash accounting or accrual accounting in Quickbooks? 

 

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