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suzie13
Jul 30, 2021 7:22 PM UTC
Solved

Registered for VAT in April. There are pre registration purchases we want to claim the vat from. How do we get the vat return to pick up pre registration transactions?

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emmam6Answer
Mar 16, 2023 2:28 PM UTC

Hello Community Users, Thanks for asking about adding pre-registration purchases  on your first VAT return. We'd like to add clarification to the post here for future readers of the Community. In the case where it is the first return you can do an adjustment in Quickbooks in the relevant box in the return to account for the expense. You would need to create a VAT adjustment account to use for this in the chart of accounts and then go to the return and adjust the box. We'd recommend consulting with an accountant before doing this. More information on how to do a VAT adjustment can be found here

Any questions feel free to add to the thread. 

 

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4 replies

Adrian_A
Adrian_A
Jul 30, 2021 11:05 PM UTC

Hello there, suzie13.

 

Thank you for posting here in the Community. I'm here to lend a hand with your concern about the old purchases in QuickBooks Online.

 

You will need to manually enter the transactions to collect their VAT return. When doing so, you may need to record them in the same order they were created or received.

 

In case you need an additional reference in the future about submitting VAT return, check out this article: Submit a VAT return in QuickBooks.

 

I'm always around if there's anything that I can help about VAT. Keep safe!

emmam6Answer
Mar 16, 2023 2:28 PM UTC

Hello Community Users, Thanks for asking about adding pre-registration purchases  on your first VAT return. We'd like to add clarification to the post here for future readers of the Community. In the case where it is the first return you can do an adjustment in Quickbooks in the relevant box in the return to account for the expense. You would need to create a VAT adjustment account to use for this in the chart of accounts and then go to the return and adjust the box. We'd recommend consulting with an accountant before doing this. More information on how to do a VAT adjustment can be found here

Any questions feel free to add to the thread. 

 

NCAUK
Oct 2, 2024 9:09 AM UTC

Do we need to add an adjustment to box 7 with the purchase value or just box 4 for the actual vat amount? thanks

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