VAT
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My accountant says it wont matter but im not sure?
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this problem needs resolving
My last VAT was paid by direct debit but late as there wasn't enough in the bank to cover it. HMRC took the VAT return amount plus the late payment penalty in the one payment. I can find no way of editing the VAT payment to split out the penalty. What I've done is "pay" the return in the VAT Centre by cash, transferred the bank payment to the cash account and written off the difference (the penalty) to Sundry Expenses, but this is hardly satisfactory. Any suggestions
I didnt think I had recorded the vat payment on the taxes page but the bank transaction page showed match. I proceeded to record payment ton taxes page but this led to possible two matches one saying VAT payment one saying tax payment. I matched the vat one but this has led to vat payment showing twice in the Chart of accounts. Help? confused. Thank you. My figures are out by the amount of the vat payment so obviously I have to delete one??
Hi AllI have an Outstanding VAT and VAT control account both have different balances, what could be the reasons?
In the desktop version of QuickBooks you could go to the general ledger, into VAT Control Account and you could customise one of the viewing categories to 'Date VAT Filed' so it would show you which VAT period the transaction was filed. This was very handy when trying to reconcile VAT on a cash basis. I can't see in on the online version. Does anyone know where I could find it?
My business is VAT registered and I recently imported some goods using a freight forwarding company. They paid the import VAT bill on my behalf. How would I categorise the VAT payment I made so I can reclaim it from HMRC, with the payment being entirely VAT? (so not standard rate or zero etc).
just goes back to home page
We have filed the clients first two VAT returns but now they want to prepare their own. How do we enable this on QBs?
Hello, I accidentally underpaid the VAT amount of £5100 by £100. So to correct I made another payment of £100.How do I record/match the two payments in QuickBooks against the single VAT due of £5100 ?
The top of the VAT 100 shows the usual accepted by HMRC and the date but where it should show the VAT Return figures, it is empty i.e there is nothing on the page.
I have some long overdue penalties and fines for non payment of VAT. How do I record these as they apply to a number of previous periods
I can see from a post from about 3 years ago that this wasn't a QBO facility but as I don't know why it recently changed, I can't fathom how to change it back, aside from going through every customer record individually which is not practical.
Below there is sample break down the amounts which should be enter for each relevant box on VAT return when using theFlat Rate Scheme (FRS), 11%, with a turnover of £1000 (excluding 20% VAT) and a purchase service from Ireland for £100 with the20% reverse charge (20% RC SG).In summary, the first amount reflects the amount that I believe should be correct, and the second amount shows the amount that QuickBooks includes:Box 1: Should be £152 (11%on£1200=£132+ reverse charge VAT here, which is £20) QB: £132 (QB shows just VAT due on sale, without VAT on purchase from Ireland)Box 2: £0 £0Box 3: £152 £132 (QB)Box 4: £20 £20Box 5: £132 £112 (QB shows under calculation of VAT due)Box 6: £1200 £1,300 (QB shows gross sale £1200 + £100 Net purchase from Ireland)Box 7: £100 £0 (QB doesn’t show purchase from Ireland/EU)Box 8: £0 £0Box 9: £0 £0I would be grateful if you could check my calculation if I’m right and if so please check your VAT returns and confir
Quick books won't contact to the VAT web site
I used (and still do) QB, whilst for a brief time my accountant used Sage for VAT returns. I have pulled it all back to QB but some data changed in this interim, meaning the data they scraped from QB into Sage for the returns altered. When I re-activated MTD in QB, QB wanted to re-submit all my old VAT returns but only in theory, no returns were actually done. As invoices were altered during this time, the returns were different to what HMRC hold on me and QB is expecting me to record different refunds / payments. My main concern, QB thinks I had some refunds in old Q whereas I actually made payments. Is there a way to do a jounal entry or similar to get this difference back as at the moment, QB isn't correctly accounting for a payment in old Q. Thanks for any inputMartin
