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Apr 13, 2019 3:10 PM UTC
Question

I registered for VAT from 1st April 2019. I still have stock that I paid VAT on. I know I can claim back for the past 4 years but how do I do this through QuickBooks?

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1 reply

Apr 14, 2019 10:07 AM UTC

Hello terry13,

 

Welcome to the Community.

 

QuickBooks can record VAT based on the entered transactions. Please see the full detailed steps in this article: How to record a VAT payment or refund [Video]

 

To previous transactions, you might want to enter them using Journal Entry. I'd suggest asking for more help from your accountant on which accounts to select. This way, you'll have them posted to the right account.

 

If you have more questions, please let us know. Thanks!