Question
How do I record VAT calculated to the end of April when I set up QB to run from the start of May?
Hi, I run a small Director owned business. I previously used SAGE50 online am transfering to QB. My VAT has been calculated up to the end of April and will be due to the HMRCin due course. I want to transfer to QB from the 1st of May. How do I record the VAT as a liability in QB so that when I make the VAT paymentthe transaction is properly offset? I assume I set the liablity using the opening balance facility on the VAT Payable code?
