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M
Muz123
September 26, 2020
Question

Itemized VAT

  • September 26, 2020
  • 1 reply
  • 0 views

Hello,

I am facing a serious issue right now.

I want to see itemized VAT Amount of my products.

Currently when you create purchase order or a sales invoice we see...

Qty    per Unit   Amount   VAT%

What I want is

Qty   per unit    Amount    VAT %( Itemized Amount)    Grand Total.

1 reply

JessT
JessT
September 26, 2020

Hi Muz123,

 

I know you really need this option. However, this isn't something that we can do in QuickBooks right now, as I've also stated this in your other post.

 

Maybe, there are some apps that you can use for invoicing, and that has an option to show the VAT amount per item. You can find one by going to the Apps menu on your QBO dashboard.

 

Let me know if you have other questions.

M
Muz123Author
September 29, 2020

HELLO I WANT TO CREATE SALES TAX MANUALLY AS QUICKBOOKS DOES NOT SHOW % OF TAX IN AMOUNT FOR EACH TAX ITEM SEPERATELY I.E I CANT ADD A NEW FIELD COLUMN.

Now please listen:

For Sales:

1. i created a Tax liability account and linked it to sub ledger (VAT Control).

2. I linked my sales income account to that Tax liability account created manually (ST20%) so that all sales tax related transaction go there.

3. when i open my Tax liability report I see this amount on that report.

Now for Purchases:

1. I created a non stock inventory account as suggested by you.

2. i have to linked it with a purchase account as it wont let me save it without it.

3. While making entries I see it is taking this account as an item or quantity and not as tax liability as done in Invoices.

PLEASE PROVIDE SOLUTION FOR THIS SO THAT I CAN BE SATISFIED FROM BOTH END AND CAN MANUALLY ENTER THE % IN AMOUNT SO THAT I CAN GIVE THAT TO MY CUSTOMERS AND SUPPLIERS. FOR PURCHASES AND BILLS I AM FACING THIS ISSUE.

G
GeorgiaC
September 29, 2020

Hi Muz123,

 

We understand thie importance of this to you, however it's not possible to have an item amount post directly to the VAT Control/VAT return. The VAT Control account is a default account in QuickBooks used for tracking transactions with a VAT code which have not yet been filed. As it's not currently possible to display the individual VAT % as an amount per line, we'd advise entering this in the description field of the invoice as a workaround.

 

Thanks

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