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October 5, 2023
Question

how to add vat to an expense paid into a personal account without reimbursing so it appears in the VAT Return

  • October 5, 2023
  • 1 reply
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Original commenter did not share additional details

    1 reply

    October 5, 2023

    Hi there,@PMJ Maintenance. I'm here to help you with your concerns.
     

    To add VAT to an expense paid into a personal account without reimbursing it, you can follow these steps:

     

    1. Create an expense transaction specifying the details of the expense.
    2. Within the expense transaction, add the appropriate VAT amount to the expense by selecting the VAT code or rate that applies.
    3. Ensure that the bank account used for this transaction is set as "personal" or create a separate bank account specifically designated for personal expenses.
    4. Save the expense transaction.

    I'm also adding these helpful resources that you can check in case you're ready to make liability payments:

     

    Keep in touch for any additional concerns you have about handling taxes in QuickBooks. I'm always glad to be of help. Have a good weekend, and keep safe!

    October 6, 2023

    Thank you for your reply. I have carried out this process but when I go to view the VAT details, these transactions are missing and have not been included in the VAT return.

    October 6, 2023

    Hello PMJ Maintenance, thanks for getting back to us here. Which specific QuickBooks Online VAT code did you assign to the transaction, and did you enter this as an expense (not a bill)?