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Roz59uk
February 25, 2020
Question

VAT is all wrong

  • February 25, 2020
  • 1 reply
  • 0 views

I submitted my vat last quarter no problem. payment were correct. I go back in to quickbook to find my VAT is way more than it should be about 3.000 more. Have tried everything  can't find were or why it doing this.  I have registered payment of last VAT.  Had this problem before phoned quickbook told to delete a few thing.messed up my books so much has to start a new account. I do not want to go through his again can somebody help me. 

1 reply

Kristine Mae
Kristine Mae
February 25, 2020

I can think of one possible reason why the VAT amount changed, Roz59uk.

 

It may be you've created a transaction within the last quarter's period. Once you've created one to a filed/submitted VAT period, it will add an exception amount to the current VAT return. 

 

You'll have to adjust the VAT amount to remove these exceptions. I'll share the article on how to adjust your VAT liability for the detailed steps. 

 

As always, I suggest reaching out to our tax adviser to ensure the adjustment is accurate. 

 

Let me also add the article on how to submit a VAT return in QuickBooks Online for future reference. 

 

Feel free to get back to us if you need more help with your VAT return. 

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