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SheilaMcC
May 15, 2023
Question

Movemybooks didn't bring across the previous VAT information, therefore when I go to post a payment, there is nothing in the Taxes Tab to pay it against

  • May 15, 2023
  • 1 reply
  • 0 views
I used MoveMyBooks (a total mess) to bring across my QB Desk Top data, but no VAT history was brought across.  I want to record a payment to HMRC for a VAT period recorded and submitted before MMB uploaded my QBDT file but there is no history at all within the TAXES Tab.  Any clues as to how to record this properly please?

1 reply

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Ashleigh1
May 15, 2023

Hello SheilaMcC, thanks for posting on the Community page,  You can mark the period as filed in QuickBooks Online, so it shows the amount and record the payment against that. 

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SheilaMcCAuthor
May 15, 2023

I was trying to pay the period 0123.  All that shows under the TAB is the current period of 0423 (see screenshot)  All the history of returns and payments going back years has not been uploaded!

LieraMarie_A
LieraMarie_A
May 15, 2023

Hello, @SheilaMcC.

 

I'm here to ensure everything is properly recorded to ensure the accuracy of your books.

 

When migrating from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO), some transactions are converted into journal entries. Before adding any prior entries, I recommend running the Profit and Loss and Balance Sheet reports. This can help us check the accuracy of your data transfer. To verify your reports in both products, filter the date period to All Dates and the accounting method to Accrual. For more information, check out this article: Learn how features and data move from QBDT to QBO.

 

You may also pull-up the VAT Liability Report to view the taxable amount of sales, and payments.

 

Here's how:

 

  1. Go to the Reports menu.
  2. Search and select VAT Liability Report in the search field.
  3. Modify the reporting period and then click Run report.

 

If you have outstanding liability, you can create an Expense transaction to record the payment. First, let's make sure to create an Expense account and use it in tracking the VAT payments. Here's how:

 

  1. Go to the Accounting menu and then Chart of Accounts.
  2. Click the New button.
  3. Choose Expenses for the Account Type.
  4. Select Taxes Paid for the Detail Type.

  5. Enter a name for this account.
  6. Click Save and Close.

 

Once completed, follow these steps to enter an Expense or Cheque transaction to record the VAT payments.

 

  1. Choose the New (+) icon.
  2. Pick either Expense or Cheque.
  3. Select the VAT agency from the Payee drop-down.
  4. Enter the necessary information.
  5. In the Category details section, choose Taxes Paid account for the Category, Description, Amount, then select No VAT for the VAT column.
  6. Click Save and close. 

 

Additionally, our support team can help answer any questions you have about the migration process. If you encounter issues at any point when migrating to QBO, email support@movemybooks.co.uk.

 

Furthermore, you'll want to check out this article to learn how to enter past sales and Accounts Receivable (A/R) transactions: Add Historical Information.

 

Get back to me if you have other questions about your VAT payments. We're always here to assist.

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