VAT
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Only just started and need help. Having downloaded my invoice for total vat period it is showing in my bank receipts page the figures are not showing on the VAT return for submission, how do I get the figures on the return. Dean
hello. We recently transitioned from sole trader to limited company so we had applied to MTD back in December 2018.We have disconnected and reconnected but getting the error code CLIENT_OR_AGENT_NOT_AUTHORISED I've tried to discuss with quickbooks twice with no solution and I've called HMRC but their phone lines are not only distorted (an ongoing issue) but they hang up and say they have no operators to help . meanwhile we need to file our VAT return soon! thanks, Karen
hello. We recently transitioned from sole trader to limited company so we had applied to MTD back in December 2018.We have disconnected and reconnected but getting the error code CLIENT_OR_AGENT_NOT_AUTHORISED I've tried to discuss with quickbooks twice with no solution and I've called HMRC but their phone lines are not only distorted (an ongoing issue) but they hang up and say they cannot help. anyone else had this issue please? thanks
I have activated the new codes for drc for cis in quickbooks online today. However, when I start a new invoice and I go to enter the appropriate code from the drop down list in the vat, the new codes are not showing up. I also clicked on the manage rates and although it is showing that these new codes are activated it is still not showing up when I try to select it on the actual invoice.I am CIS and VAT activated already. I am also on the Cash Basis Scheme.
I have added some supplier bills with VAT amounts included. These bills are dated prior to the current VAT period but they are not showing on an exception report, how can I check when these VAT amounts have been included on a particular VAT return?
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I want to check which VAT codes I should be using in QuickBooks online. I receive a lot of purchase invoices from Microsoft, Linked In, Google etc. many of whom are based in Ireland. On the invoices, VAT is at "0" and it often says on the invoice something like "VAT (0.000%) Reverse Charge" or "You may be required to account for VAT under the reverse charge procedure according to the local VAT rules in your country." The business I work with is based in England. They don't import goods, all of these invoices are to do with the supply of IT licences or systems? Can anyone advise please.
Hi all. Hoping for some help with how to enter a bit of an unusual transaction so it gets folded into the VAT return. Details as follows:I purchased a machine from China. I paid 60% deposit in Feb this year - no VAT. I paid 40% balance in May this year - again, no VAT. The machine then shipped to the UK by sea.On entry to the UK last week there was VAT payable. The VAT was paid to the UK shipping agent acting on my behalf who in turn passed it on to HMRC as part of the customs clearance process.My question is - how do I record this payment purely as VAT? . . . . I have an invoice from the logistics company that is all VAT - If I enter a bill or expense the value of the actual item is £0 because the full amount of the payment is VAT. As an example - (not actual number) : Bill amount = £1000, VAT amount = £1000, transaction amount is £0.The only Account codes available are "VAT Control" and "VAT suspense" both current liabilities. I hope that makes sense and would&n
I am submitting my first VAT return, and I have one expense (which I would like to claim back the VAT on) that was paid for 2 days before my effective date of registration. I believe that this should be recorded as an exception, but I am unsure of how to do it.I have seen answers to similar questions that suggest making a dummy return for the month prior, but because I am signed up to MTD the return period is un-editable.A simple fix would seem to be to alter the date of payment for this item by 2 days so that it falls within the relevant VAT period.Would this be acceptable or do I need to somehow include this as an exception? If so, how? Thanks in advance
Good morning, I started on QBO from 1st April with no carry over of accounts from previous except starting figures I have a VAT refund from the Previous period (Dec-Mar) as a single transaction in my linked bank account How do I account for this? Have seen other posts/threads but either deal with previous historical VAT payment (not refunds) or it is just a refund from a previous return filed through quickbooks. Cheers MuchlyNick
Just after a quick bit of advice on the correct way to code certain transactions. I enter all my transactions based on my bank feed, using this as a to-do list for coding/categorising the transitions, adding receipts/invoices and VAT. However I'm unsure how to populate these for say transactions which are loans from a director into the business account as a loan to the business, or receipt of intercompany dividend income.... so I'm putting: - Transaction type: Deposit (rather than Sales receipt)- VAT: No VAT (0% Sales) Is this correct? And if so, for VAT what's the different between 0% sales and 0% purchases? These transactions (loans and dividends into the business) are nether sales nor purchases...
Hello What HMRC VAT code do you select when selling services to customers in the EU who have a supplied you a VAT registration number.
We are a new IT consultancy business operating from the UK.We have our first client from the Netherlands.How do we treat the VAT for this? Do I just activate reverse charge for Sales? Or is it just Zero rated Vat?Do we need to have any special wording on the invoices to clients in the EU?
Good morning, Not sure if possible? But any help appreciated. Was looking to add historical sales to QBO in a cumulative amount to aid having to enter hundreds of individual transactions. I need to show the total sales, any refunds, and these sales all have associated fees. Sales receipt basic thoughts were to show:Item Line 1: Total Sales (+ funds)Item Line 2: Refunds (- funds)Item Line 3: Fees (- funds) This would then give me a Receipt balance which would 'match' a historical payment into my bank, and also prove my gross sales minus costs Every individual transactions was subject to VAT - I enter the total net figures into the receipt but the VAT figure showing is incorrect as QBO uses the 20% Standard rate to calculate. Is there a way of 'adjusting' just the VAT amount on the sales receipt so that it matches my records? Hope above makes sense?!? Cheers muchly Nick
Can anyone help!New to QuickBooks and I stupidly left computer open with kids in house!! I've just noticed, that over half my transactions from previous months have been deleted 406 to be precise These transactions had already been reconcile and filed for VAT (monthly) - Its knocked everything out.. My question is Do I need to add everything again individually and if I do .. How do you add a bank deposit from a customer or card merchant ? And will this effect my VAT return?
Hi, I'm new to Quikbooks as my accountants suffered a severe Cyber attack and can no longer rely on them. I am trying to add a manual entry to my return. Some material I took out of bonded warehouse and therefore I can recover the VAT. However, I cannot see how I can upload this 'as a recipt'? Anyone elsoe done this so I can manually add that entry? Thanks...
My accountant tells me I can claim 40% of the 20% standard VAT rate for smallholding expenses that are not wholly agricultural. How do i calculate this within Quickbooks Online?
We are an Irish company relatively new to Quickbooks Online. Is it correct when preparing the VAT 3 return for Ireland and selecting View Summary in the dropdown menu, we get a VAT 201 Calculation Report - should it not say VAT 3?
Hello,Recently registered for VAT and my first official return is due end of August '22. On advice from here, I have filed an "exception" VAT return to claim back VAT on historical purchases as my accountant informed me I can claim back to 2018. However, I have made an error on one of the purchases as the supplier is not registered for VAT when I thought they were. I need to delete this from my "exception" filed VAT return. How do I do this? Thank you in advance for any answers. Dan.
