Carneil_C
QuickBooks Team
QuickBooks Team
‎March 29, 2023 10:58 AM

VAT

I've got some insights you need to know about the VAT return, kabarnard.

 

The first thing you can do is delete the journal entry you created. Then, record your VAT payment from the Sales Tax Center. You can follow the steps below to do so.

 

Here's how to delete the journal entry: 

 

  1. Click +New, then choose Journal entry.
  2. Select the clock icon at the top left of your screen (see the image).
  3. Scroll down and locate your VAT journal entry. You can also tap the View More link. Then, open the transaction.
  4. Tap More toward the bottom. Hit Delete.

 

From there, go to the Sales Tax Center and make the payment. I'll show you how: 

 

  1. Go to the Taxes menu.
  2. Click VAT.
  3. Choose the VAT return, then click Record payment. 

 

If you manually record your taxes, you can seek professional advice from your accountant to ensure the accuracy of your accounts. 

 

Check this handy article for more details about VAT: How do I set up sales GST/VAT rates and use them on forms? (International QBO).

 

I'm more than willing to help if you have any other concerns with your VAT in QuickBooks Online. I'll ensure your needs are taken care of. Take care always. 

Reply