Quickbbooks Query
System
Posts: 100,534 🤖 Admin 🤖
There seem to be a few QB users contributing to the forum at the moment, so may I ask for a little tech support.
I have "inherited" an accounts department from a previous bookkeeper and I'm having a bit of a problem with the VAT control account.
Until I arrived, the VAT filing facility was not used, but a manual bank payment / VAT control account entry was posted to record the payment. In order to mark previously reported transactions as "filed" the first time I ran "file VAT" QB filed everything back to the beginning of time and generated the relevant bank / VAT control account journal. (BTW - I did do a proper manual reconciliation as well)
This automatic posting needs to be reversed. When I post the reversal, QB insists that I specify input or output VAT by clicking a radio button. Trouble is, this entry then appears as part of the input or output VAT on the next return. Thus the cycle of manual adjustment / unwanted specifying as input or output VAT / inclusion in next VAT return calc continues each quarter. :?
How can I get out of this cycle?
Any ideas gratefully received.
I have "inherited" an accounts department from a previous bookkeeper and I'm having a bit of a problem with the VAT control account.
Until I arrived, the VAT filing facility was not used, but a manual bank payment / VAT control account entry was posted to record the payment. In order to mark previously reported transactions as "filed" the first time I ran "file VAT" QB filed everything back to the beginning of time and generated the relevant bank / VAT control account journal. (BTW - I did do a proper manual reconciliation as well)
This automatic posting needs to be reversed. When I post the reversal, QB insists that I specify input or output VAT by clicking a radio button. Trouble is, this entry then appears as part of the input or output VAT on the next return. Thus the cycle of manual adjustment / unwanted specifying as input or output VAT / inclusion in next VAT return calc continues each quarter. :?
How can I get out of this cycle?
Any ideas gratefully received.
0
Comments
-
Re:Quickbbooks Query
Hello
I'm sure i've had to do that before but i don't have time now to think it through - you could try posting the question here for an answer:
www.quickbooksusers.com
I'll let you know if i remember what i did
jodie0