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Jul 21, 2019 7:49 PM UTC
Question

If total VAT on sales on Quickbooks doesn't match actual Vat that I have calculated what is wrong. Also does Quickbooks include all expense accounts in Vat on expenses?

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1 reply

HoneyLynn_G
Jul 21, 2019 9:05 PM UTC

Hello there, @jordanconstructi.

 

The calculation of VAT depends on its setup. I recommend reviewing and updating your preferences on the VAT Centre.

 

From there, you have the option to set up and enter the VAT Registration number, the month the current period begins, VAT accounting scheme and filing frequency. You can refer to this link for the detailed instruction.

 

You also have to check each transaction if you missed or selected a wrong VAT code. Once confirmed, you have the option to adjust your VAT liability.

 

Keep me posted on how it goes or if you have additional questions. I'm just a post away.