VAT
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I have an old return from before I started online and it is stopping all present returns from showing
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Hello, I just started using Quickbooks today, so forgive me if I am asking a common question. I have also just registered for VAT, which is the reason I am using quickbooks. Now in the 'interim' between applying for and getting a VAT number I am supposed to pay VAT on income, but I could not charge VAT without a number, which I only recently just got. My customer has agreed to pay a VAT-only invoice to cover the two invoices I was not able to charge VAT for. So how do I handle this in Quickbooks? Do I make up invoices with VAT on them, but only apply a partial payment? Then how do I account for the VAT payment when it arrives. I'm confused what to do here.Thanks in advance. Hazel
just have ! finish strong; this will be a late return ?
This is to make sure that when the annual vat return is fully prepared and checked, we'll be able to see in the report how much we owe or are owed back. Thank you.
Having submitted a vat return when the vat refund was paid into our account I then went to; taxes, view return, record refund. Problem is that I forgot two weeks later and did this again. Record refund twice for the same vat refund. How do I undo one of these?
I am deducting an excess paid by a customer from an invoice which then needs sending on to their insurer.ie - the balance is paid by the insurer SHould it have vat within the excess? or deduct it free of vat using N or 0%?
I started QBO on 1 August. I have received a refund from HMRC on 7 August which relates to the July return. How do I record the refund, which category do I attribute it to as at present I have only the VAT control account showing the VAT items input from 1 August onwards. Thanks in advance.
My client has set his VAT up from the wrong date and I cannot change it, or connect to HMRC online to submit VAT returns. Any ideas on how to fix this?Thanks
I have followed the normal route for recording a payment to HMRC of VAT with a client...taxes..record payment...put amount and date.. but its not going to the vat control account and as thus there is no match in the banking. any ideas please? I have a number of clients and this is the first time its happened thanks
Hello So we are bricks and mortar business that has two physical sites which are both VAT registered businesses. Due to our card provider we can only get our payments made into one bank account even though each business has it own business bank account. Questions is:-The money comes into business 1 and I send the physical money/ payment to business 2 bank accountLinking the bank accounts showing the money coming in and out for both businessesHow do we show the journal amount?The money going out is showing in my "spent" column on banking - how do I code this ? Do we show the payments using a suspense account ?Thanks
I set up my Self-employment (accountancy) consultancy business (ABC Consulting) under QB Accountant (which is called ABC Accounting). I did this as I use QB Accountant for my wife's business. So, in ABC Accounting on QB Accountant Online I have ABC Consulting as a new client. I wish to submit the VAT return for ABC Consulting and the software wants me to set up an Agent Service Account to file the VAT return on behalf of ABC Consulting. I run both ABC Consulting and ABC Accounting but I can't seem to login as ABC Consulting in QB Online to submit my own VAT return. I need to submit as the business owner and not as the accountant (agent). I should probably have set up ABC Consulting as a self-employed person in QB Online first and then appointed ABC Accounting as my accountant. I may need to delete ABC Consulting under QB Accountant Online and start again. Help!
We need to file VAT returns and the QuickBooks system is off line and the last date to file is 7/10/20023 but HMRC will accept filing over the weekend
Hello!I've tried searching for this and haven't found anything so apologies in advance if it's already been answered.I have worked for a courier company on a self-employed basis for around 6 months. Every week they issue a "self billing" invoice (i.e. they produce it but it's from me to them technically) and pay the according amount into my bank account.I've now registered for flat rate VAT as from 1/3/23. The company I work for have a process where you can ask for the invoices I mentioned to be re-issued retrospectively. This then obviously means that they owe me the VAT for all these invoices which they pay as a lump sum.My concern is how to reconcile a load of invoices with no VAT paid (and corresponding payments to the bank account), and then one big bank payment which is effectively all VAT.I'm currently on self-employed and was planning to switch to online for obvious reasons but wanted to check this was possible to resolve in QB online. I've used Xero in
Reverse charge vat is set up on my Quickbooks vat rates but doesn't show up when I prepare a bill. It also does not show up when I try to post reverse charge commission to a sales invoice eg for Amazon sales. Any ideas how to activate it?
I've been filing my VAT via my accountant since 2016 and tracking it in QB.I made a mistake a couple of years back in trying to use QB's own VAT system to track the VAT. Now it's all a bit of a mess, with my books way out of balance.How can I undo all of the 'filed' data in QB's tax system, or correct it so that it matches the VAT returns I've been sending via my accountant?
Hello,I am just starting to use QBO and I am trying to connect to MTD for VAT. Previously we have filed VAT returns via the online MTD service using bridging software and Excel spreadsheets and therefore we are successfully registered for MTD for VAT. This bridging software still connects to HMRC successfully.I have setup the connection within QBO, this appears to connect and shows two old returns from 2021 although the amounts are all zero and the latest of the two has a status of "Take action" and tooltip "Something is up, Check the error above for more info", the error shown is "We can't connect to HMRC right now". Further the VAT MTD enabled logo is displayed on the top left of the page?This has been the situation for the last few weeks, I've tried disconnecting and reconnecting, however this has not resolved the issue. What is my way forward?, I've attached an image of current situation Regards, Chris
Evening all. I'm just doing my first QBO based VAT return and have found a whole bunch of my receipts have gone to the wrong VAT code i.e. Outside scope and should have gone to Zero-rated. I hope someone can help me with a means of correcting these in bulk to avoid doing them all (100s) one-by-one. Thank you Dave
