How do I get QBO to bring up Reverse charge purchases in Box 1 and Box 4 on a Flat Rate Scheme VAT return. Currently it is only bringing it up in Box 4 and 6.

Forum|Forum|2 years ago
June 14, 2024
1 reply
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QuickBooks Online

GeorgiaC

Level 13

Hello and welcome to the QuickBooks Community, Suzie

When your business is on the Flat Rate Scheme (FRS), you may notice that some codes may post differently based on your industry.

When using the 20% RC SG Standard reverse charge VAT for services code on a purchase form, this will post +/- VAT at 20% to Box 4 and +/- Net Purchase to Box 6 (Note: this code is not applicable on sales forms).

For further tips, see our guide on understanding the Flat Rate VAT Scheme in QuickBooks Online.

Thanks again for reaching the Intuit QuickBooks Community for support. We'll be around if you have any further questions.

suzie-heartwood-Author

Hi,

Thank you for your reply.

This is not correct though as the VAT element should be in boxes 1 and 4. The net element in Box 6 and 7 even thought they are on the FRS. With it only coming up in box 4 we are claiming the input VAT which should be offset by box 1 and is not being.

GeorgiaC

Level 13

Thanks for getting back to me, Suzie

I have referred this thread to our higher support team for further review on the code mapping, and I will post an update here once I have this to share. Thanks for your patience in the meantime!

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