Solved
How can i record a vat refund paid into the bank in a cheque?
How do i record a vat refund from hmrc. I receive a cheque, then put this in the bank. How do I record this? I have not used quickbooks for filing a vat return.
Answer
February 7, 2019
Hi deborahj7,
Thanks for reaching out. If, as you say, you have not recorded this filing within your account for this refund, you could record this as a Supplier refund for this occasion however I would suggest speaking with you accountant first. For more information on recording Supplier refunds, please have a look at our online article: Record a customer refund or supplier refund in QuickBooks Online.
Then for future refunds when you have filed through Quickbooks you can use the refund or payment option to record the VAT refunds/payments within the VAT section of Quickbooks.
Let me know if you have any queries.