VAT
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Hi, QuickBooks appears to have pulled in the same transactions from my bank account twice, this now seems to be affecting my VAT return. I cant delete the duplicates as receive the error Any transactions in a VAT period marked as filed can’t be changed on the Flat Rate Scheme. I have no idea how to rectify this, can anyone please help me. The duplicates also appear on my VAT exception report. At this rate, I will be paying nearly £2000 more VAT on my return than I should. Any help will be much appreciated. ThanksPaul
Any help appreciated
Hi,Iam filing tax return for March 2019, but in the statement it is showing adjustments of Jan and Feb 2018 input tax how do I track down this transaction to get exact amount for only March 2019 tax?
i have to change my hmrc access number how do i do it?
I overpaid VAT and they refunded me. How do I record that? Thanks
VAT de-registration in QBO
I made a payment of approx. £7K to HMRC in Feb 2019. I joined QBO in March.When QB uploaded my bank transactions, I had to log the £7K payment as an uncategorised expense rather than a VAT payment as QB had no invoices to match that VAT payment to.That £7K is now throwing out my P&L etc.Is there a way that I can create journal entries to correctly account for that £7K payment? Could I create entries to the VAT control or suspense accounts?ThanksIan
Hi I run a wedding venue in the UK.When a bride and groom book a wedding, they pay a deposit to secure the date, which I record through a sales receipt recording 20% VAT on the payment Cancellations are not uncommon in the wedding industry. If cancelled shortly after making the booking, I will often refund 50% of the deposit (including VAT) paid using a Refund Receipt. On cancellation, the balance of the deposit is deemed forfeited and output VAT is no longer payable (as the sum is deemed to be compensation - not VATable).My question is how to record that adjustment in Quickbooks. My output VAT liability should reduce by the amount of VAT charged on 50% of the deposit. At the same time, the forfeited sum remains taxable as income, so my income should increase by the amount I reduce my VAT liability.I can't work out how to record this adjustment, so any guidance would be very much appreciated.Thank you!
I made a pension contribution from my company to a personal pension as an Employer Contribution and recorder this as a bank payment to the Pension code in Payroll with the VAT code as Exempt. When I run my VAT return this shows as an additional purchase expense. Is that correct?
Hi,We recently upgraded to QB 2019 Premier Accountant 2019 from 2003.Every financial year we create a new company file to store transactions for that particular year.The Issue I am having is generating VAT Summary Reports. We started trading on 02/01/2019.when I want to see my VAT Summary Report for a particular day, for some reason it shows as acumulative from the day we started trading. I have attached pictures to show the issue I am having.for example when I just want to see for 03/01/2019, the figures that it gives me are the same as if Iput the dates from 02/01/2019 to 03/01/2019.Any help would be much appreciated. Also if some one can provide the contactinformation for the UK department i.e email address as I am a small business basedin Kenya and calling them via phone is a bit costly
