VAT

Hi,  after years of using SAGE, I finally made the switch to Quickbooks from 1 January 2019.  My VAT period runs Dec to Feb so bridges my software switch, so now I have a VAT report for items on SAGE and a VAT report for transactions on QBs.Does anybody know how I can include the SAGE figures on the QBs vat return? I have also registered for Making Tax Digital so I don't know if that makes it any harder?! Thanks Anna

Hello, We switched to new version of your software (2019) and we have some questions regarding some functions in Make General Journal Entries.In the old version there were Vat % and Vat sum solumns instead of current Vat item.Can we somehow add those column in 2019 version?  We need that when General Journal is filled and what is added under VAT sum column is also reflected in VAT Detail Report (Show on VAT reports as input (Purchase).

This video does not apply to Quickbooks Online as there is no Record Payment button on the Taxes page.

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I am currently trying to prepare the latest VAT return and when I am reviewing the detail of the return, I noticed that a number of bills within the period are not being included. I have checked to be sure they are dated within the period and they are still not showing up. Why is this?

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I filed VAT in QB for Nov-Dec 18.  It correctly created a creditor for when it was paid.  Someone else was working on the file and when I went to look at this return there were no previous returns filed and the creditor is gone.  I have no idea what happened.  The period is warning as closed when post an invoice into Dec 18 because of this file VAT.  Is there any way of rectifying this?  Thanks.

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I am seeing under Select VAT in Banking the following at the top of the list: "20.0% ECS (-1,980% Purchases)"

Every receipt I am entering is out by at least 1p, as the system is rounding the VAT figure up, whereas the rule of VAT is to round down, so every invoice / receipt, has a different figure to what Quickbooks is calculating, and it will not let me adjust it.  I have to manually add an extra line of each transaction, with "Exempt" being used for VAT, and enter the 1p etc for the item on there.  Otherwise the figures differ.  Getting highly frustrated.

I've setup my historical accounts on QuickBooks and the only issue I have is that when I prepare VAT returns using the Flat Rate Scheme it shows no value in Box 7 'Cost of Sales'. I've selected the Flat Rate scheme and set the rate in settings.  I'm coding the expenses as Purchases - Cost of Sales VAT 20% S.  Does anyone know they're not showing up on the form?

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Dear All, I started to use quickbooks online last month to get ready for MTD, having used a basic version of sage for the past 25 years. The problem that I have at the moment is that I have completed a VAT return on sage, manually submitted it to the HMRC and then made the payment. The payment having been made in the current quarter and having been entered on quickbooks as an expense on the VAT Suspense account. This has made the bank balance correct, but I now show a negative figure in the VAT Suspense account. How do I correct this? I also have some expenses payments that where entered on sage but did not get included on the VAT return. These will need to be included on the quickbooks VAT return for the current quarter. Can I make manually adjustments on quickbooks online to correct the total for the VAT return, but not effect the profit and loss accounts?

My client's van is used 75% business and 25% private. I know I should split expenses 75% business and 25% private but there's lots of small value expenses and to save time I'm going to allocate them all to motor expenses and in the annual account apportion 25% of the total to non-business. That's OK for income tax but not OK for VAT which I'll have to deal with as I go along. My client used to use a spreadsheet that correctly claimed only 75% of the VAT. What's the best way to deal with this in QBO? I'm thinking of creating a new VAT code eg VAN and giving it a VAT rate of 14.285% (being 15/105) because 14.285%/114.285% gives the correct result eg £100 of fuel x 14.285%/114.285% = £12.50 which is the VAT content in £100 is £16.67 x 75% business use = £12.50.

My old system automatically filled in Box 2 and Box 9 on the VAT return. How do I make sure Quickbooks treats the VAT on my imported goods and correctly