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AndyAllan
December 7, 2019
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Can I adjust the vat status of a transaction in reconciled accounts before submitting my vat return?

  • December 7, 2019
  • 1 reply
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Original commenter did not share additional details
Best answer by IamjuViel

Hello, @AndyAllan.

 

Yes, you'll have to undo the reconciliation as suggested by my colleague @MariaSoledadG. When you change the VAT Status of your transactions it may increase or decrease the transaction's total amount.

 

Here's a screenshot on how it looks like when you change the VAT Status of a reconciled Sales Receipt:

 

Also, I'd recommend consulting your accountant so you'll be guided accurately in making VAT-related adjustments.

 

Feel free to click the Reply button if you have other questions. I'm just a few clicks away.

1 reply

MariaSoledadG
MariaSoledadG
December 7, 2019

Hi AndyAllan,

 

First, manually unreconcile the transaction, so you can adjust the VAT status.

 

Here are the steps: 

  1. Sign in to your QuickBooks Online (QBO) account.
  2. Go to the Accounting menu. Then select Chart of Accounts.
  3. Locate the account and Click Account history. 
  4. Select the transaction you want to unreconcile.
  5. Review the check column. If the transaction is reconciled, you’ll see an “R.”
  6. Select the box and keep clicking it until the box is blank. This removes the transaction from the reconciliation.
  7. Click Save. Then close your register.

Second, once done you're done, change the VAT status of the transaction. Then, manually reconcile it again.

 

If you have incorrectly reconciled your account in QBO, you can go over this article for more information: Undo And Remove Transactions From Reconciliations in QuickBooks Online (QBO).

 

Post a comment if you have other question. I'm always right here to help.

    A
    AndyAllanAuthor
    December 8, 2019

    Thank you for your reply.

     

    I assume therefore, I can't just change the VAT status without changing the reconciliation.  With the total amount been the same I assumed it wouldn't make any difference.

     

    Regards,

     

    Andy

    IamjuViel
    IamjuVielAnswer
    December 8, 2019

    Hello, @AndyAllan.

     

    Yes, you'll have to undo the reconciliation as suggested by my colleague @MariaSoledadG. When you change the VAT Status of your transactions it may increase or decrease the transaction's total amount.

     

    Here's a screenshot on how it looks like when you change the VAT Status of a reconciled Sales Receipt:

     

    Also, I'd recommend consulting your accountant so you'll be guided accurately in making VAT-related adjustments.

     

    Feel free to click the Reply button if you have other questions. I'm just a few clicks away.

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