How to prepare VAT Return in Quickbooks
Vat is obviously a complex subject for more information and advice see an acccountant . We are Accountants for small and medium business The Mobile Accountant. Quickbooks can handle your VAT Returns as long as it is set up correctly and the data is entered correctly.
Go to VAT > Manage VAT Screen below.
This article shows some screenshots from the Quickbooks Pro and Premier desktop programs. Quickbooks online plus and Quickbooks essentials also handle VAT. Both Quickbooks online and desktop versions are now fully compatible with MTD - making tax digital. We can assist you in setting up Quickbooks for VAT and MTD, train you in how to prepare and submit your VAT Returns and assist in problems with your VAT Returns . Our Quickbooks help and assistance in training in VAT returns for Quickbooks remotely and in person in our one on one Quickbooks training sessions . Contact us for full details. or go to remote training to book immediately now.
Go to VAT > Manage VAT Screen below.
This article shows some screenshots from the Quickbooks Pro and Premier desktop programs. Quickbooks online plus and Quickbooks essentials also handle VAT. Both Quickbooks online and desktop versions are now fully compatible with MTD - making tax digital. We can assist you in setting up Quickbooks for VAT and MTD, train you in how to prepare and submit your VAT Returns and assist in problems with your VAT Returns . Our Quickbooks help and assistance in training in VAT returns for Quickbooks remotely and in person in our one on one Quickbooks training sessions . Contact us for full details. or go to remote training to book immediately now.
VAT Return
To show VAT Return for last quarter, ensure the dates are entered correctly. Click view summary report - screen below. Our Basic and Advanced Quickbooks Training course can tell you more about VAT within quickbooks.
If you would like to find out more about Quickbooks software contact us for prices on our Quickbooks Training Courses one to one personal training to suit your requirements.
Problems with VAT Return in Quickbooks
Under MTD - Making Tax digital . your Quickbooks account must be linked with your HMRC account for VAT. There are different ways to do this depending upon whether you are a user or an Accountant. In either case you will need the VAT number and governement gateway username and password and also previous information about your VAT Returns.
Once set up , you can directly file your VAT Return from your Quickbooks accounting software each quarter. If you have completed a Direct Debit authority HMRC will take the payment for your VAT Return at the last possible date. You should record this as being paid within Quickbooks on the record payment within the taxes - VAT page. If you have the bank account linked through the bank feed system this will match up with the recorded payment meaning you do not have to make any further entries in Quickbooks.
We can go through setting up , checking and filing your VAT Return with Quickbooks in our bespoke remote Quickbooks training sessions.
Once set up , you can directly file your VAT Return from your Quickbooks accounting software each quarter. If you have completed a Direct Debit authority HMRC will take the payment for your VAT Return at the last possible date. You should record this as being paid within Quickbooks on the record payment within the taxes - VAT page. If you have the bank account linked through the bank feed system this will match up with the recorded payment meaning you do not have to make any further entries in Quickbooks.
We can go through setting up , checking and filing your VAT Return with Quickbooks in our bespoke remote Quickbooks training sessions.