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Plee 11
February 8, 2019
Question

VAT adjustment - Unpaid creditor & Previous return

  • February 8, 2019
  • 1 reply
  • 0 views

Hello, 

 

I'm new to QBO and I've submitted my first VAT return and had to make two manual adjustments. I have not filed this in QBO yet as I'm not sure how to account for the adjustments. The adjustments were: 
1. Unpaid creditor for the period (as we are preparing VAT on cash accounting basis)

2. Difference between previous period's VAT filed and VAT refund received.  

 

My question is do I mark these adjustments in the "Submit Return" adjust box? Or should I enter a manual journal?

The payment has been made (but not recorded yet) as it obviously won't match the current VAT due balance currently showing. 

Thanks in advance. 

 

    1 reply

    A
    Amanda G
    February 8, 2019

    Hello,

     

    Thank you for your post.

     

    When making VAT adjustments you are better doing them from within the return as this affects the return with the balances. A Journal would not affect the return.

     

    Hope this helps.

     

    P
    Plee 11Author
    February 8, 2019

     

    Thank you for your reply Amanda. 

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