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December 3, 2022
Question

Simple Start and standard accounting for VAT

  • December 3, 2022
  • 1 reply
  • 4 views

Hi, Simple Start has the option to account for VAT on the accruals basis but how do I enter purchase invoices that are yet to be paid? Many thanks.

1 reply

Level 9
December 3, 2022

Help is here, PJD007.

 

Simply create a regular invoice, and when you're ready to pay it, create a transaction to receive payment.

 

To ensure the accuracy of your VAT report, I suggest consulting your accountant for guidance. If you don't have one, you can use our Find an Accountant tool to find accounting professionals: 

  1. Go to this link: https://quickbooks.intuit.com/find-an-accountant/.
  2. In the Find an expert in section, choose what you're looking for, then use your search field to enter a City or ZIP code.
  3. Click Search.

In case you want a reference with VAT processing in QBO, check our Resource page through this link: VAT for QBO United Kingdom.

 

If you have other questions on future tasks, feel free to access our Help Articles.

 

Keep in touch for more questions with this managing VAT information. I've got your back. Have a good day.