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April 14, 2020
Question

Please help I paid HMRC a VAT payment via bank transfer I simply need to know what I classify the Payment as on the drop down while using the app thanks

  • April 14, 2020
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1 reply

April 14, 2020

Hi absolutekitchens, 

 

If you have recorded this VAT filing through QuickBooks you should record the payment directly against the filing by going to Taxes > select Record Payment against the filing. This will then cedit and debit the correct VAT suspense and control accounts in the background, and you will then be able to match the payment in your bank screen to this. 

 

If you do not file VAT through QuickBooks, then you will need to create a new Chart of Account to post this to, as the VAT Suspense account should only be used for filings recorded on QuickBooks.

 

Thanks