I was just wondering if you know of any other clients that may be in the same situation as the below?
Our clients bookkeeping is prepared in QBO and is prepared with the base currency as USD, currently for VAT we export the VAT Return and convert the sales at the HMRC rate and any supplier invoices these are posted as the GBP amounts and QBO converts these to USD for reporting purposes. Therefore on the excel VAT return we manually type in the GBP amounts as per the invoice.
We have recently been contacted and asked that we set up the VAT filing through QBO, however I have advised that I do not think this can be done due to the QBO account being in USD. Am I correct? or can we actually submit the VAT return via QBO even though they report in USD?
