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Jan 20, 2020 12:54 PM UTC
Question

How to make and adjustment to the VAT figure

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1 reply

Jan 20, 2020 3:16 PM UTC

Hello Neal-Weightman

 

If you go to taxes>prepare return>you will see an adjust option available for most of the boxes.It will bring up a pop up box when you hit on the word adjust.The adjustment account needs to be changed away from a bank account.(usually it would be best to create a liability account especially for vat adjustments-do not use the existing vat control/suspense accounts)

If it is an increase adjustment type in the figure.If it is an adjustment to reduce the box type in a minus symbol and then the figure>save

 

It is worth confirming with your accountant that they are happy with you doing that this way.

 

 

Emma