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clearview3design
February 13, 2023
Question

VAT Surcharge payments cannot be added, recorded or matched?

  • February 13, 2023
  • 1 reply
  • 0 views
VAT Surcharge transactions are unmatched on my transactions list. These surcharges were separate from my VAT return which had been recorded.
I cannot record the VAT surcharge payment and thus I cannot match the transactions.

1 reply

DivinaMercy_N
DivinaMercy_N
February 13, 2023

Hello there, @clearview3design. I'm here to help you record and match your VAT surcharge payments in QuickBooks Online (QBO).

 

To ensure you'll be able to match the surcharge, you'll need to record the VAT payment on the VAT screen in order for it to classify correctly. Here's how:

 

  1. Go to the Taxes menu and select VAT. 
  2. Then, click the dropdown menu next to the return.
  3. Next, select Record Payment.
  4. Select the bank account you've used to pay HMRC.
  5. Enter the payment date and amount in the appropriate fields.
  6. Once done, select Save.

 

For reference, please check this article: Record a VAT payment or refund in QuickBooks Online.

 

Once done, you'll be able to match them on the Banking page. For detailed steps, check out this article: Add and match downloaded bank transactions.

 

You can also run a VAT Detail Report to see the list of the transactions included in the box of your VAT return. 

 

I'm always here ready to lend a hand if you have any other concerns about managing your VAT surcharge payments in QBO. Take care and have a good one. 

C
clearview3designAuthor
February 13, 2023

Hi Davina, thank you for your reply, however I cannot do as you say. The only option I have is “Record a Refund”. There is no “Record a Payment” option available in the drop down menu on my last return. I can view, I can delete, but I cannot add to it. 

D
DebSheenD
February 14, 2023

Glad to have you here in the Community, @clearview3design.

 

I've got some information to share on why you're unable to record a VAT payment in QuickBooks Online (QBO).

 

Recording a VAT payment option will be available if you have filed a return. If not, we can create a cheque and associate it with the Surcharge account and match to your bank transactions. 

 

Here's how:
 

  1. Tap +New.
  2. Choose Cheque.
  3. Add the Payee and enter the Category under Surcharge expense.
  4. Then, hit Save and close.
     

Please see this article for more details: Manually add service fees to invoices in QuickBooks Online


After that, we can proceed in matching bank transactions in QBO.

 

I'm adding these articles to help you manage VAT in QuickBooks:

 

 

Get back to us here if you have other questions about tracking your VAT-related transactions. I'm always here to help. Keep safe!

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