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February 14, 2021
Question

Does any one know how to categorise drawings from my business bank account so they dont appear in my tax return and vat report?

  • February 14, 2021
  • 1 reply
  • 1 view
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1 reply

Level 9
February 14, 2021

Hello there, williamiain.

 

We'll only have to make sure that the VAT column is not used for the manually entered transaction in QuickBooks Online. When categorising drawings from a business bank account, it'll not appear in your tax return and VAT report.
 

You can open the transaction and double-check if VAT is selected.

 

We'd recommend consulting with an accountant.

Here are some articles that you can check for more information about matching and categorising transactions from the Banking page.

 

 

Visit again if you have other questions with QuickBooks Online. Take care always.