VAT
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Hi I have a problem on the exceptions report for our latest VAT return. It includes an invoice which was raised in August 2022 ,for £12k output vat. The invoice was included in the Q2 vat return in November (I can see it listed in box 1 in the VAT detail report for the return).However the value of the invoice was amended in error after the vat return. When we spotted the error, the value was corrected back to the original value, but as a result Quickbooks now includes an additional £12k output in our return due on Monday.Can anyone advise how I can remove the duplicate entry from the exception report?
I've successfully submitted my VAT return and had a confirmation from HMRC, but when I check my HMRC account online, the figures for the VAT return I have submitted do not appear, all the boxes show zero. I am due a refund but according to my HMRC account no refund is due.
My limited company is not VAT registered so do I just put tax is exclusive or one of the other options and what would I put in for tax type ?
I have a VAT exception for the current VAT return due to inputting of an invoice which was received late and belonged to the previous VAT return. What do I do?
The Bank dropdown list when recording a payment does not list all bank accounts so I am unable to select the correct bank.
Good morning all. We started using Quickbooks Online (UK) back in 2019 due to "Making Tax Digital" coming into force. The last 5 years we have literally only been using it to submit our quarterly VAT return via uploading a spreadsheet.We are now at a point where we want to start using Quickbooks for all of our bookkeeping, invoicing etc. but I obviously have 5 years worth of VAT returns on there. If I leave them as open then our VAT suspense account is way off, but if I mark them as paid, it screws up our opening balance as there are no transactions to link the payments to. I obviously don't want to have to sync 5 years worth of historic transactions to balance the books so what do I need to do with these old VAT returns? Is there a way to clear them off the system so I can effectively now start again from zero?Any help would be greatly appreciated. Many thanks.
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Posted VAT return in quickbooks HMRC paid it but not showing in quickbooks now.
Hi there, i hope someone can help. I have submitted my first vat report 6 months ago and its a 1/4ly submission. so all adjustments i have made have now gone onto my 3rd 1/4s vat filling. But HMRC have already took of the the exemptions on their first payment (which has only just been sorted now) so how do i now alter my new vat filling before submitting as if they have took the adjustments off i will be paying this extra VAT for nothing?
Hi I have started selling products to Germany customers from stock held in Amazon Germany (I am German VAT Registered). In my UK quickbooks what VAT codes should I be using: IncomeSaleAutomatic Sales Tax ExpensesUnitFulfillmentFeeCommissionAutomatic Sales Tax Any guidance will be greatly appreciated. J x
My company is registerd for MTD & I dont want to file return from QB so how can I just lock the return without submitting it to HMRC
I am having issues activating suppliers sales tax. I want the TAX column to display on the enter bills table.
All reconciliation, between bank transactions and invoices have been matched. Yet, at month-end there are the "undeposited funds" and also the "uncategorised income" with some amount in them. If I just make a journal clearing them, will it cause any imbalance in the reconciliation done? Thanks in advance.
Hi, I submitted a claim alongside my first vat return for a refund on the vat on my last 4 years purchases. I made a slight error in my accounting and this led to a £2600 discrepancy in my vat return. (There was an error on my spreadsheet I created leading to an incorrect figure) This was all sorted with hmrc but it is now showing as a minus figure in my vat suspense account, how do I correct this? all vat that was owed back to myself was refunded by hmrc, Thanks
I am setting up someone on QB in another jurisdiction using a suitable region's QB version that has VAT. There are transient tax laws that may affect whether the taxpayer has to register for VAT or not in the country and thus enable VAT or not in the QB system. Can VAT be enabled later on if and when required while in the meantime we continue using QB without enabling VAT?
The difference has gone to Savings by FRS, but this is different to how we post onto Sage for FR as they all go on as T9
We were exporting goods to middle east, and we were booking sales with No VAT. But as a result of which the Sale value not updating in the VAT return under Box 6. Please advise whether we need to opt for Zero VAT under Exclusive of VAT for the export sale outside EU.
Our system is set to VAT rate of 23% and this is the amount shown on invoices that go out to clients. However the actual rate calculated by QB is only 21%. How is this possible and how can it be adjusted to the correct rate?
Hello, I wanted to clarify if bank deposits (invoice payments made by clients) should be VAT Exempt or No VAT?As I've already charged the VAT on the invoice and they are just making the payment. I know salaries etc are No VAT so wondered if it was the same.
The usual charged vat minus paid vat calculation does not apply.
I purchase meals, hotels and airport taxi transfers in Europe (France). What VAT code do I use for these expenses? I'm thinking NO VAT, but can see EU codes.
I don't understand how my VAT bill is so high and why my 'paid on purchases' figure is a negative?
I have switched from Xero and all good except that I have VAT returns showing as needing to be filed despite showing £0.00. How do I show these as filed up to the current quarter?
