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crossbat
May 16, 2020
Solved

Just run a VAT 100 report in QB online for the first time, but it has not included sales on which VAT is zero. This means value for Box 7 is incorrect. Any advice please?

  • May 16, 2020
  • 1 reply
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Original commenter did not share additional details
Best answer by ChristieAnn 11

Hi JenoP

Thanks for your reply, but I’m a little confused. 
The net item values in my supplier bills are mostly ex-VAT and then I specify a VAT rate, usually 20%. If the VAT field is set to No VAT, then the VAT100 report does not add the net value of the item to the total value of purchases. But if I set the VAT field to Zero VAT, then it does. That’s correct isn’t it?


Hi there, crossbat.

 

Yes, you're right, if you set the VAT field to Zero VAT, it will show in the Box 7 under Vat 100 report.

 

Please check these articles to see a table that contains different VAT codes and how to make any changes to your VAT settings, codes, and rates:

 

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

1 reply

C
crossbatAuthor
May 16, 2020

Sorry, I don't mean "sales", I mean "purchases"

JenoP
JenoP
May 16, 2020

Hi there, crossbat.

 

Purchases with zero Vat will be included in the VAT 100 Report if the Amounts are set to Inclusive of Tax, and the vat code used is Exempt. Follow these steps to verify if the purchase transactions do not have these details: 

 

  1. Open a purchase transaction.
  2. Go the Amounts are field and check if Inclusive of Tax is selected.
  3. Proceed to the VAT column and verify if the code used is Exempt.
  4. Make the necessary changes if the details assigned are incorrect.
  5. Click Save and close and follow the same steps for the rest of the transaction.

Once done, go back to the VAT 100 Report and check if you can already see the amount in Box 7. You can also see these articles for more details:

 

Let me know if you need anything else. 

C
crossbatAuthor
May 17, 2020

Hi JenoP

Thanks for your reply, but I’m a little confused. 
The net item values in my supplier bills are mostly ex-VAT and then I specify a VAT rate, usually 20%. If the VAT field is set to No VAT, then the VAT100 report does not add the net value of the item to the total value of purchases. But if I set the VAT field to Zero VAT, then it does. That’s correct isn’t it?

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