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maryashehurley-g
Level 1
posted
‎January 31, 2022 03:48 AM
last updated ‎January 31, 2022 3:48 AM

Hi Can someone tell me If I need to run two reports to calculate a Vat on Cash Receipts for Ireland? I'm getting very bad help from QB help assistant on this.

From what I can see I need to run the Cash Basis for the T1box and the accrual basis for the T2 box! Can someone kindly confirm this for me.
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1 Comment 1
JasroV
QuickBooks Team
QuickBooks Team
‎January 31, 2022 06:34 AM

Hi Can someone tell me If I need to run two reports to calculate a Vat on Cash Receipts for Ireland? I'm getting very bad help from QB help assistant on this.

There's no need to run two reports to calculate your Vat Cash Receipts, Mary.

 

QuickBooks calculates it for you depending on the information you've provided. If you want to know how your Vat is calculated, run your vat report and change the accounting method to Cash or Accrual to see the information you need. I'll show you how to do it.

 

  1. Go to the Reports menu.
  2. Type the VAT report you want to run.
  3. Select the Report period and the Accounting method.2.PNG
  4. Click Run report.

 

You can also check out these links for more details about running your report and the difference between Cash and Accrual methods:

 

 

I've also added this article that can guide you in seamlessly filing your returns: File your sales tax return and record tax payment in QuickBooks Online.

 

If you have other queries about your vat reports, you can always count on me to back you up anytime. Keep me posted by tagging me in your reply and I'll sprint back into action. Stay safe!

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