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ursusmaj
August 1, 2019
Solved

FRS - How to adjust just Box 1 on VAT Return without affecting Box 6?

  • August 1, 2019
  • 1 reply
  • 0 views
Can this be done in QBO, for example in the case where too little VAT was paid previously in error? The Box 1 adjustment option seems to assume the entered value is gross, but all I need to do is adjust box 1. Is there a way to do this?
Best answer by EdwardR

Thanks for posting in Community ursusmaj.

 

When making adjustments in QuickBooks Online to box 1 this will also change the figure within box 6 due to the way they are linked. It is not possible to make an adjustment to box 1 without affecting box 6.

 

Please let us know if there is anything else we can help with.

1 reply

E
EdwardRAnswer
August 1, 2019

Thanks for posting in Community ursusmaj.

 

When making adjustments in QuickBooks Online to box 1 this will also change the figure within box 6 due to the way they are linked. It is not possible to make an adjustment to box 1 without affecting box 6.

 

Please let us know if there is anything else we can help with.

U
ursusmajAuthor
August 1, 2019
Is there any other way to achieve this (say) through a journal? Or a VAT only transaction of some sort? This really should be possible for FRS - how would you include (say) penalities or other adjustments so the return matches the payment made?
T
TaliaI
August 1, 2019

There is no way to do this. Box 1 on FRS returns is worked out by multiplying the box 6 figure by the FRS % - this means there is no way to edit one without the other being affected.

 

Thanks,

 

Talia

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