VAT

Hi, Appologies in advance if this is a silly question -We are currently not registered for VAT, no VAT is included in our sales. When I have been recording our payments/purchases, I have been logging VAT as shown on receipts for payments. I have noticed on a report we have a figure against VAT liability, would this be due to be logging the VAT on receipts? Should I be recording everything as no VAT or am I doing it correctly? We will likely be registering ourselves in the next 3-4 months.  Thanks

On the 1st October 2021 the hospitality VAT amount will change from 5% to 12.5%. Will QuickBooks be creating the VAT code for us to enable / use OR will we have to create this? Thanks,Ryan

Hi there, Could anyone please advise on the correct VAT code for recording an invoice with this scenario: We have imported standard rate goods from Germany. Parcelforce has invoiced us for the import VAT of these goods prior to delivery, therefore we have already paid the VAT on these goods. We now want to record the invoice for the goods in Quickbooks, which VAT code do we use? I assume it is not PVA (20%) as that would mean we'd be reclaiming the VAT twice?  Thanks for any help,Austin

Hello I am on the flat rate vat scheme with a rate of 6.5%. As quickbooks does not show in your profit and loss the income made from the diffrence of 20% charged and 6.5% given to Hmrc and just shows income minus 20% vat i am getting slighty confused on the following. Currently to work out my income tax i take my total income add the 20% vat paid then minus my flat rate at 6.5% and then obviously minus all my expenses but what i find confusing is when you submit your quaterly vat through quickbooks which calculates the flat rate correctly but then add a journal entry that is labeled savings from flat rate and its classsed as an income but its a odd number not corosponding to what i make or earn from the Flat rate. So at present i am having to ignore that income entry and do the above calculations to get the correct amount for self assement purposes. Any advise if this is correct and or the purposes of the savings by frs entry when submitting which at the moment

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I made a VAT Adjustment but accidentally selected the wrong tax rate... ('VAT on Purchase 15.0%' - where did that come from? It's not even listed under VAT rates) Can I delete this adjusment so it can be corrected? I've not yet filed the VAT return so I thought I could delete it, following the instructions at https://quickbooks.intuit.com/learn-support/en-ie/run-reports/create-or-delete-a-vat-adjustment/01/756390But the system says "This VAT filing transaction was created by the system and can't be edited" and won't let me delete it.

First VAT return period is longer than 3 months but less than 6> How do I do set this up?

Hi, I'm categorizing the staff on "banking" and I don't know if the asset as equipment I bought to use at work, I've to add the VAT.

Hi!When I am billing a supplier  and passing on invoices to them from the quickbook system, sometimes the invoice includes the VAT as part of the total, sometimes there is no Vat, the invoice needs to be exclusive of Vat. what am i doing wrong?

Hi, I don't have 'NO VAT' tax code in my QBO.  It is not inactive and I have tried to create such code, but QBO doesn't allow me to do so.  Can you please advise? Thank you! Lucia 

Hi,  Two scenarios I am hoping someone can help me with. 1.) Purchased some items (goods) from Amazon, the seller has a FR VAT ID. I have paid the amount and the VAT at the time of purchase. What code? 2.) Similar scenario as above but this time Dropbox, so computer services .. Many Thanks

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When categorising bank transactions, Quickbooks has started not to enter the VAT type, even though that account has a set VAT code. Very annoying as I have to go back and find what the VAT code should be, sometimes several times per day. And even if I've already categorised e.g. the line above and it's come up with the correct code, the next line down has the right account but no VAT code.

Hello, I have set up a Directors liability account in chart of accounts and have submitted several invoices I paid for out of personal funds. Most of these payments include VAT which I have added. However when I look in the VAT section they show the journal entry but the value shows as zero net and VAT. Can anyone advise how I ammend this?

Hi.Does anybody know which VAT Code do I use to non Vat registered retail buyer outside the UK please?

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Can someone please sort out the layout of the PDF version of the VAT Detail report? The Name and VAT Code columns are far too narrow and the report looks a total mess as a result. The version on screen is fine, but can someone please ensure the column layout reproduces faithfully on the PDF export version?

Hi there, this is my 4th VAT return via QB but this one has attached a couple of exceptions to the return (as I had to update a couple of items (not amounts!) from a previous return) and I can't seem to remove them. Any ideas? I've tried changing back at source but still screws the figures on this latest return so it's not correct. Any help gratefully received. Many thanksKaren 

I need to reclaim VAT spent on machinery during the 4 years before VAT registration. How do I include this on the first VAT return?

Hello How do I enter Fedex import charges correctly? For example a typical invoice would be made up of mostly import VAT e.g -Original Duty £5.71-Original VAT £62.62Sub total £68.33 I am Flat VAT VAT registered, so currently I just enter this full amount as an expense and cant claim it back (which i understand) however I also have "Savings by FRS" which I believe I should be offsetting with the VAT from imports Please let me know if my understanding is correct, and if so, how I should be entering   

I am not vat registered

can you link the Vat return as paid to the amount showing on the account

Can someone clarify which vat codes we should use in Quickbooks online please?We are a vat registered UK business buying goods from mainland EU suppliers and selling goods to mainland EU businesses. So we provide our vat number and buy from the EU without the vat, then we also sell to EU businesses without vat when they have provided us their vat details.I would expect when we enter a purchase receipt into Quickbooks for an EU purchase that it would show no VAT, but that the vat element would be recorded on the box 2 and box 4 sections of the vat return. Should we be using ECG 20% for this?Then when we enter sales receipts where we haven't charged VAT to our EU business customers, are those classed as ECG 0% because they're handling the vat in-country?thanks in advance,James

Posted our first VAT return to HMRC via MTD and all went well, except that when I reviewed later I noticed that the VAT owed amount (credit) went against my personal bank account rather than the company business bank account. Firstly how do I correct this and secondly where are the settings that I can change to make sure the my next return goes against the correct bank account. Appreciate your help. Thanks

I have set up FRS as a VAT Code however when I go to do an invoice it is not showing for me to select in the VAT dropdown.  I have clicked on Manage Rates and it is showing on the list and is shown as active.  I have tried deacitvating everything and then reactivating and that didnt work.  I have tried deactivating everything and only leaving the FRS option active but then the drop down list shows nothing! Any advice?