I want to set up my suppliers. I added all of them sellected the VAT on each supplier. When processing the bank statement it asks me the VAT again.

I appreciate your addressing your concern here, Casseldale.

To begin, when you mentioned processing bank statements from your suppliers and you were prompted for VAT again, could you please let me know which page you are on? This will help me assist you more effectively. Any screenshots or additional details would be greatly appreciated. Please remember that QuickBooks Online (QBO) is specifically designed for recording transactions to maintain your financial records.

When processing supplier invoices, the categorisation of the invoice depends on the nature of the purchase and its relation to your business operations. You should choose "Cost of Sales" or "Supplies" accordingly.

Cost of Sales (or Cost of Goods Sold - COGS😞 Choose this category if the items or services purchased from the supplier are directly related to the goods or services your business sells. For example, if you are a retailer, the items you purchase for resale to your customers should be categorised under COGS.

Use the Supplies category for items that are not directly resold but are used for the daily operation of your business. This can include office supplies, cleaning supplies, and small tools.

To ensure you have the most accurate categorisation, I recommend reaching out to an accountant who can provide expert guidance.

For future assistance, you can refer to this article, which provides detailed guidance on how to effectively match your bank and credit card transactions with the records already recorded in QuickBooks. This process is essential for maintaining accurate financial statements and ensuring that your accounts are balanced: Match online bank transactions in QuickBooks Online. 

If you have additional questions or queries handling suppliers, feel free to visit our Community forum. We're always here to help.