My VAT is not showing?

QuickBooks UK : Pro 2012

My VAT is not showing on my VAT reports but when I look into the bills all the VAT is there?

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3 Replies

Lolizzie

New Member

02/04/12 1:43am PST

The solution

I have the same problem. Having investigated it looks like there are two VAT accounts. VAT Control and VAT Liability. I think this is due to my upgrading from an old version of QB to the 2012 version.

There should only be one account. This is my first VAT return since upgrading and despite the fact HMRC supplier indicates that both purchases and sales are to be from VAT liability, the sales are in the VAT control account.

Have come to a dead end here as I don't know how to move the sales transactions to the VAT Liability account.

Any help greatly appreciated

Lizzie Carr

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Graceman

Allstar

02/04/12 11:47am PST

Ok you have upgraded from older version of QB to newer version and because a Tax agency was not defined in the older version the upgrade created the Vat liability & HMRC as the Vat agency.

You will also have the original vat agency as a supplier account it was probably called HM Customs & Excise or Inland Revenue. Find this account first.

You will also note that the Item list has all the Vat items some of then reporting to Vat liability and the rest reporting to the old vat control. Now it gets tricky, this depends on what transactions have been entered but if Vat liability is empty it might be possible to go to the HMRC account and reverse the selection for Vat agency, go to the old suplier account and turn this on to be vat agency.

Check to make sure this is reporting to Vat control with correct period end dates and reporting method.

Now you have to go through all the Vat codes to see what vat items attched to them report to Vat control and try to deactivate & delete all the others.

Its careful detail work but once done it will be ok.

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KTG40

New Member

02/07/12 6:43am PST