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I
info-assl-co-uk
June 23, 2022
Solved

Can I avoid future payments recorded for VAT showing in the current bank balance in the linked bank account window?

  • June 23, 2022
  • 1 reply
  • 0 views
Original commenter did not share additional details
Best answer by CharleneMaeF

Yes, that's what I thought, but surely the bank balance on the banking page should show the correct balance at the current date (same as the Balance Sheet). Can this be logged as an enhancement request please?


Your voice matters to us, info-assl-co-uk.

 

I can see how the functionality to avoid future payments recorded for VAT showing in the current bank balance would be beneficial to your business. With this, I'd recommend sending a feature request directly to our Product Development team. This helps us improve your experience and the features of the program. 

 

Here's how:

  1. Go to the Gear menu and then select Feedback.
  2. Type in your feature request in the description box.
  3. Once done, click on Next.

 You can track your feature requests through the Customer Feedback for QuickBooks Online website.

 

Additionally, I've added these resources that'll help view the lists of transactions that are included in each box on the VAT return:

 

Let me know if you need assistance in managing your VAT in QuickBooks Online. I'm always here to help you out.

1 reply

A
Ashleigh1
June 23, 2022

Hello Info-assl-co-uk, 

 

Welcome to the Community page, 

 

There is no way to avoid it hey unless they take the vat off the transactions. Are you recording the vat payments on the vat page and then matching them? 

I
info-assl-co-ukAuthor
June 23, 2022

This is a payment to HMRC recorded from the VAT page for July 12th 2022 when they will take the direct debit. Although the transaction is forward dated it still shows in the current bank balance shown on the page linked to the bank account as the QuickBooks balance. It is correct in the Balance Sheet report.

A
Ashleigh1
June 23, 2022

Hello Info-assl-co-uk, thanks for that information, so when you record it on the  vat page it will lessen on the balance sheet as money being paid out, if you dont want it recorded then deleted the record of payment on the vat page and then exclude the transaction on the banking page but this will then affect the vat suspense account showing not paid with an amount owing which will also show on reports just to make you aware of this.

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