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Optom
October 26, 2019
Solved

Incorrect VAT Amounts

  • October 26, 2019
  • 1 reply
  • 0 views

Hi,

I am trying to complete my VAT return after moving to Quickbooks desktop pro from another quickbooks package. However the VAT amounts are incorrect.

 

I have a lot of unassigned VAT which I cannot clear and the calculated amounts even when I take this into account are still inaccurate.

 

Can you advise me firstly how to clear the unassigned VAT (they all appear to have VAT codes assigned).

 

Thank you

Best answer by MariaSoledadG

2nd Screenshot

 

Thanks


Hi Optom,

 

I appreciate your effort in taking the time to follow the steps above. After you've selected QuickBooks Desktop Help, a window will display with the Contact us button at the bottom part. 

 

I have attached a screenshot for your visual guide. However, if you're still unable to see the button, you can follow the steps below so you can contact our support team. 

  1. Go to this link: https://help.quickbooks.intuit.com/en_GB/contact.
  2. Select Run the business.
  3. Choose VAT.
  4. Under the Call Us option, click Get Phone Number.

I have this Help Articles in case you have other question about QuickBooks Desktop. 

 

Post a comment if you need anything else. I'd be glad to help. 

 

1 reply

IntuitLily
IntuitLily
October 27, 2019

Hello there, @Optom.

 

Tracking VAT in QuickBooks Desktop is different from QuickBooks Online. If you're using QBO before, you may notice that your account balances are inaccurate.

 

You can check this article to learn more about the differences: Differences between QuickBooks Desktop and QuickBooks Online that you may notice after importing.

 

To ensure you are tracking your VAT codes correctly in QB Desktop, you may need to open your transactions and manually update the tax code per item. 

 

 

 

Here's how to set up a sales tax item:

 

  1. Go to the Edit menu and select Preferences.
  2. Choose Sales Tax on the left-side panel and click the Company Preferences tab.
  3. From here, you can add a sales tax item and taxable item code. 
  4. Click OK when done.

 

Please let me know if you have any other questions or need more assistance. I’m always here to help.

O
OptomAuthor
October 27, 2019

Hi,

 

Thank you for replying.

 

I don't have "Sales Tax" . My options go from "sales and customers" to "search"?

 

 

R
RaymondJayO
October 27, 2019

Hello there, @Optom, 

 

It's possible the company data is damaged. This could be the reason the Sales Tax option is missing on the Preferences menu. 

 

To help fix this, let’s first open a sample file to help isolate the issue. This way, we can determine if this is specific to program or with the file. Here’s how:

  1. Close your QuickBooks.
  2. Open it back.
  3. In the No Company Open window, select Open a sample file.

 

After opening the sample file, go to the Preferences menu. If you're able to see the Sales Tax option, let’s run the verify and rebuild utilities within the affected company file. Please first create a backup of your company file before performing the steps below. 

 

The Verify Data utility identifies all the errors while the Rebuild Data utility fixes these errors. To run the Verify Data utility: 

  1. Choose Windows, then click Close All. 
  2. Go to File from the top menu. 
  3. Select Utilities.
  4. Choose Verify Data.
  5. If you see the "QuickBooks detected no problem with your data" message, choose OK. 

 

Then, let’s run the Rebuild Data utility. Here’s how:

  1. Go to File from the top menu. 
  2. Select Utilities. 
  3. Choose Rebuild Data.
  4. On the QuickBooks Information window, choose OK.
  5. Click OK when you see the message, “Rebuild has completed”.

 

For detailed steps, go through this article: Resolve Data Damage. 

 

Once done, you can now set up sales tax in the program. 

 

Please don't hesitate to leave a reply below if you need further assistance. Have a great day, @Optom, 

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