Skip to main content
R
RoisinC
May 6, 2021
Question

Reclaiming Vat missed from a previous quarter

  • May 6, 2021
  • 1 reply
  • 0 views

Hi there,

I am about to do my first VAT return using Quickbooks.  I have entered all my invoices, and came across invoices that should have been included in the previous quarter (which was done off quickbooks).  I have entered these invoices onto quickbooks, but because they are dated in the previous quarter, they are not being pulled into the current quarter vat return.  Can anyone point me in the right direction? 

1 reply

R
ReymondO
May 6, 2021

Good day, @RoisinC.

 

Since your invoices are entered in the previous quarter, they won't be included in your current quarter VAT return. 

 

However, you can create a tax adjustment to your recent VAT return. You can do this with the use of a Journal Entry. You can do this with the use of a Journal Entry. Though, I would recommend reaching out to your accountant before taking this action. 

 

Simply follow these steps to create a journal entry: 

 

  1. Click the + New icon and select Journal entry.
  2. On the first line, choose an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  3. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  4. Check the amounts to ensure the accounts are in balance.
  5. Enter information in the memo section so you know why you made the journal entry.
  6. Click Save and close.

 

You can also adjust the boxes on your VAT Return, still, you have to do this with the clearance from the HMRC's or guidance from your accountant. 

 

Should you have any follow-up questions or concerns, don't hesitate to post again here in the Community or leave a comment on this thread. Take care and have a good one.

Terms & ConditionsAccessibility statement