Previous submitted VAT returns item

We are a VAT registered business & started using quickbooks desktop partway through a year so im entering old sales & purchase invoices that have already been included on a vat return.  Is there a way in QB of marking them like you can do in sage as already incldued on VAT Rtn so that they dont show up on teh exceptions report.    The only way i can think of at the moment is by creating  a  VAT liability account & instead of adding vat adding a second line item to this vat liabilty on all invoices then i post the VAT payment here too. 

Answer

Take the TB  from the old system which I guess is the end or last years accounts use that date (for example 31st December 2017) As the date of all data take on in Qb posting to opening balance equity account as opposite posting account so you can generate a TB in QB that matches the old system. (Feel free to tweak it as required to tidy up or consolidate odd accounts)

These opening balances can be tweaked later is you find odd late entries or you get transactions in transit that come in later.

Now open the first day of new year in QB and you will see Qb has gone through a year end and everything is ready to start entering the transactions to build the data forward to current date. At first Vat period end date run vat summary and compare to that posted. Tweak using vat adjustment as required or trace difference and correct if any.

When satisfied QB is correct fil to paper and save this is just within QB and asllows you to assign the payments to the vat bill which is created.

Now just run through to current period date. Any queries just ask but you should be able to build QB to current period where you can choose to set up direct HMRC posting.

Make sure you set up your vat period end dates correctly in supplier account for Vat usually HMRC you might have two accounts for them one will be payroll if used the other I usually rename as HMRV Vat to distinguish.

Make sure the End of accounting year is also set up correctly before you start this.


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