VAT
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Hello Everyone, We import items from our German office and thus have paid import VAT on these items. My question is how can I add this to QuickBooks so we can reclaim the full import VAT paid, as we have not used the postponed vat accounting system (AKA we paid the VAT before the items were released to us). I have been reading through a lot of other topics but most seem to refer to postponed VAT accounting which doesn't help me add my Import vat to QuickBooks.
i have an insurance excess to pay on a claim for £100 and £600 VAT to pay as we are VAT registeredHow do i put this on VAT return so i can claim the VAT part back
We use a third-party software package called QuoteWerks to create quotations, once the customer accepts the quote you can export it to an invoice in QuickBooks. It all works well until we try to create an invoice, then we get the error shown below. Business Validation Error: Please select a tax code for the shipping line. We have asked QuoteWerks and they say its our QuickBooks settings that are wrong, but I cannot see how to set a default VAT for shipping or whatever else this could be. Any help would be appreciated.
We're a subcontractor and my customer is not the end user so I need to use the 20% VAT reverse charge when raising my invoice to them for our services. All UK based. Please could someone advise which code I use? I don't want to mess it up. TIA.
Hi, at the moment if we create an invoice using a Bundle, when we print or send the invoice, the VAT code does not show up against the bundle (only the individual items under that bundle, which we don't show to our customer). So, the invoice which our customer sees does not have a VAT code against it, (but does show the vat at the bottom). We really need to show the VAT code against the actual Bundle item (rather than the individual items within that bundle), especially now we need to show that the Bundle is part of the VAT reverse charge for buildings and construction services, so we need to show it with the 20.0% RC CIS code against it. Is there any way of doing this please?
I started using the FRS but my accountant advises me until I hit the theshhold I should de-register for VAT with HMRC. I have done this but can't turn the feauture OFF in Quickbooks. I am trying to set up invoices and my VAT details are defaulting in the company details and I can't get rid of them - any help would be appreciated
Can QuickBooks deal with the sale of capital goods when operating the flat rate scheme? For purchases there is a check box to reclaim the VAT on capital purchases but I can not find anything similar for capital sales. I did think of using the adjust option within the VAT section but I am only able to adjust box 1 so the figure in box 6 would be incorrect. Does anyone have a solution?
I have applied the VAT code for the DRC but when i raise an invoice to a CIS Contractor, the DRC VAT is not charged on the invoice? Just shows the following: SubtotalTotalLess CISBalance Due
Hello - I want to set up two new Current Asset accounts for some share investments I've recently made. I incorrectly set one account up in GB£ when it should be US$. Plus, I want to amend the description of the account. Can someone let me know how I amend a currently set up account description. Thanks.
Can anybody tell me how to activate the CIS reverse charge vat codes ???
Hi,I have called QB to try and resolve an issue that the invoice does not show the new (20% RC CIS) reverse charge figure.I have spoke to one of the contractors we use this morning and they have confirmed that the invoice needs to show the amount that has been reverse charged.Mine invoices are not doing this, nor are they showing in our vat section.Surely even thought we are not paying the vat there has got to be a trace of it!?If any one can shed any light on this, as I am struggling to get right information to put this right.Thanks :-)
We issued a sales invoice back in August. There was VAT included on it, however customer should not have been charged VAT. This invoice has not been paid. Customer has now asked to have the invoice issued without VAT. What is my best way to correct this? Do I remove the Vat from the existing invoice or should I issue a Credit note to clear this invoice ie with the vat and then issue a new invoice without the Vat. Am I correct in saying that if I make the adjustment on the existing invoice QB will pick up the necessary corrections in the VAT account. Thanking you
I am deregistering for VAT so need to repay the vat I claimed on a vehicle before I had Quickbooks, I am keeping this item as an asset, how to I record this on my final return? thanks
