What does quickbooks do with vat, not same as sage ... confused

redsunflower25 Registered Posts: 38 Epic contributor 🐘
Sorry if this is in the wrong place... welcome to move...

I'm a sage user who has been thrown in at the deep end to 'fix' a clients quickbooks but I'm stumped as to why there is a journal to clear the vat down. I get why to some degree but being a sage user I'm confused. How has this journal been created, has qbs done this itself? I have a vat 100 that works in Feb but then afterwards does not because the figures have been cleared down. Do I need to clear them all down?

Help most appreciated.


  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
    No great expert on QB but I believe it clears the VAT liability to the creditors control as soon as you file VAT. As far as I know when you press the file VAT button it clears everything down.

    Could that have happened?
  • redsunflower25
    redsunflower25 Registered Posts: 38 Epic contributor 🐘
    I think so, but I just wonder why it hasn't on the other quarters (I guess because they haven't been 'filed')

    So am I correct in thinking when i run a VAT 100 on a 'filed' quarter the amounts left showing are the transactions that haven't been included in a previous vat period?

    Then on another quarter I have the correct sales vat showing but the purchases vat is missing.

    Think I need a qbs lesson in VAT ... :blushing:
  • entfac
    entfac Registered Posts: 8 New contributor 🐸
    It may be that the client is using the flat rate scheme.
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