You're doing it right, @MiguelLuis,
We record the money received from the claim as income in QuickBooks Online. Then, the VAT code to use would be NO VAT since this is classified as a refund from HMRC after processing your wage expenses. Let me outline the steps for you.
To add the income account:
- From the Accounting menu then pick Chart of Accounts.
- Use the New button.
- Choose Income from the Account Type ▼ drop-down.
- Pick a Detail Type from the list.
- Fill in the Name then Save and close.
To deposit the claim:
- Tap the + New button, and select Bank Deposit.
- Enter the account where the claim is to be deposited in the Account field.
- Update the Date field.
- Add the income account in the Account column.
- Enter HMRC in the Received From column to indicate where the fund came from.
- Add the Amount, then press Save and close when done.
You may also refer to JackS' recommended answer in his previous post.
Let me know if there are other things I can help you in QuickBooks. I'm always here to help. Have a good one.
