VAT
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Hi, I want to reconcile VAT but Desktop seems to be including balances from previous months even though those months were closed off. And if I try to look at previous months, QB Pro tells me: “A VAT return already exists for the date selected. Please select another date.”Additionally the balances on VAT report bear no relation to the sales and purchase report totals. ???
I need some help with payments from Airbnb.Airbnb recently (since lockdown) asked me if I was registered for VAT, which I am and so I entered my VAT number onto my account profile. Suddenly, unbeknownst to me, they then charged VAT on top of my normal base price for my rooms, when I have always accounted for it in my calculations. (I only found out when I gave a customer a bespoke price and he came back stating that the price had been inflated by Airbnb!) This has suddenly made my accommodation more expensive. However that is not the issue, the issue is I have no idea how to account for the VAT on my return as they are clearly collecting it on my behalf, and I assume, paying it onto HMRC? Do I account for this as a 0%ECS code? Any help would be gratefully received. Thanks
Hi all,I’m currently in the process of submitting my VAT but can not figure out what I’m doing wrong.Im an electrician, self employed on standard CIS at 20% but also VAT registered so have been uploading any fuel receipts and have linked my business bank to track payments.Ive organised and submitted the purchases for materials etc and that seems to be working ok and is showing in the VAT section. However once I receive payment for outstanding invoices, I record that payment as received and then add it but it’s not showing up in the sales part of the VAT?I’ve tried changing all sorts and experimenting with it but had no luck. Is there something I’m doing wrong?Also when I go into the vat100 form, box 1 and 2 are empty which isn’t right as it should be calculating the sales output.The purchases are showing as they should so I’m a bit confused and seeing if anyone can figure out what I’m doing wrong.Thanks
Good morning,I have made a Flat Rate Vat adjustment on my return.The return was filed with the correct amount and paid, so far so good.I have just looked on the vat control (Liability) account and it is showing as an increase instead of a decrease of the adjusted amount.Why has this happened, have I missed something?
Hi, We registered our company for VAT at the end of Dec 19, with our first VAT return period covering Jan 20-March 20. We filled this separately from quick books so I'm looking to mark this as filled to move the VAT from the VAT control to the VAT suspense account and match it to the payment received from HMRC (we were due a refund due to significant renovation works undertaken). The issue I'm having is that the return submitted to HMRC included a lot of expenses prior to our VAT registration (as allowed by HMRC), however when I go to taxes in quickbooks its only showing a return for the period Jan 20 to March 20 and I can see no way to record the expenses I have entered in quickbooks for pre-Jan 20 as filled. Can anyone advise me how I would do this. Thank
Can I just manually calculate the amount owed and make an adjustment?
Hi there - we have a holiday let business - I want the invoice date to be the date of the sale. I can do this and put the deposits on the invoice - so that is all good, however we use cash accounting and the VAT due on the deposit is not showing on the VAT return - any ideas? Thanks
I have received a credit note from a supplier for the settlement of an insurance claim so it has zero vat.when I off set it against their supplier invoice it doesn't include the vat of this supplier invoice.eg credit is £120 and supplier invoice is £100 plus £20. I would expect £20 to be includes in my purchase vat but it just cancels the invoice without it be included in any vat totals.
