I need to reclaim the vat on purchases before our registration date. We have used QB since the business began last year so all transactions are already in QB, they have been matched and reconciled each month from the bank feed. What is the best way to add VAT to these transaction? Do I have to uncategorise all the transactions then add them again with the VAT code?
Hi LouiseRoberts, thanks for joining us here on the Community - if you have filed returns in QuickBooks after your registration date, you can simply edit the transactions to add the appropriate VAT code and these will then appear as exceptions against your current open return. As long as the total amount on the transaction remains the same these won't need to be be re-matched to the original downloaded bank transaction, or reconciled. 🙂
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.