VAT and Quickbooks - The Book-keepers Forum (UK)

NickyW · Veteran Member

VAT and Quickbooks

Stardoe · Guru

Hi there,

Was the VAT return supposed to be done to 29/01/10 or was it a mistake? Did you run the VAT100 report in QB to find the figures and fill in a manual return? Sorry for the questions, but just trying to get a clearer picture.

Pauline

NickyW · Veteran Member

Pauline - thank you so much for getting back. I will explain in detail what the problem is - I am afraid it is quite complicated.
I have just started a new job up until the last quarter the VAT was done through Quickbooks and everything was OK. The last quarter the VAT was done by a new person and it was done incorrectly.
The person ran the VAT 100 liability report to the 29.1.10 instead of 31.12.09. Then the VAT detail report was run until the 31.12.09 - so therefore the figures did not match. Then the VAT report wasn't filed through Quickbooks they just wrote out a cheque on Quickbooks to HMRC.
When I started to do the VAT last week I thought the best thing to do was to file a return through Quickbooks up until 29.1.10. I created on QB the VAT 100 report and the figures do not match the original report. I spoke to someone about this and it seems that some unqualified people have been playing around with the accounts I therefore have a difference of about £200.
Also as the last person did not file the report through QB and simply wrote a cheque for £13K - this figure is now is on the VAT detail report for the quarter ending 31/3/10 and reducing our liability for this amount.
What I think I should do is the following:-
1. File a VAT return up until 29/1/10.
2. File the second return up until 31/3/10.
What I don't know how to do is the following:-
1. The original cheque written for £13k has to be undone. When I file the new return there will be a difference of about £200 - how do I adjust this?
2. All the previous returns have been done correctly - but why can't I see the money coming out of the register.
I hope I am making sense!!
Regards
Nicky

Amanda · Expert

Hi Nicky,

The simple bit about undoing the cheque on QB is easy. If the person did write cheque to HMRC, find the cheque either throught the register or through the Suppliers and click on HMRC and then find the cheque for £13K and open it up. Then I think from memory when the cheque is open you can go onto edit across the top of the tool bar and then click on 'Void or delete' cheque this will then infact cancel the chq in QB, it will then stay as a balance on the HMRC account, so you will need to then delete that bit as well, so the entry is completey cancelled out. Then when you file the return on QB it will automatically put the balance into the HMRC account for payment now or later. If pay later just go to the Supplier menu and click on pay supplier and then click on HMRC and then you can do the payment.

Regarding the £200 I suppose you could do a journal? Not really sure about this one as I have never had this situation on QB before. Maybe someone else on here can answer that bit for you.

If they have been done correctly ie FILE VAT on QB then you should see the payments through the bank register like you said. Are they sitting onthe HMRC account in the Supplier bit and maybe not been paid on QB, I would have a look there first.

HTH
Amanda

Stardoe · Guru

Hi Nicky,

Looks like Amanda's beaten me to this one! Sounds like you have quite a mess to sort out. I had similar problems with the VAT when I took on a new client using QB and I'd never used QB before!

First of all void or delete that cheque in the way Amanda suggested and then I would be inclined to run a report for 6 months from 1.10.09 through to 31.3.10 and then deduct the figures from the previous report from this and manually complete the next return with the resulting new figures. File this return for the whole 6 months in QB which will create a bill on HMRC's account for the last period and this one (as one bill) then you can pay off last period's with the £13K you mentioned which will leave this quarter's outstanding until you pay it. This isn't an ideal way to go about it, but at least you will be correct going forwards and as long as you make a note of what you have done then HMRC should be ok about it.

If you can't see any amounts going out of the bank for previous VAT payments then it stands to reason that the bank reconciliations will be incorrect as well? Maybe as Amanda said they have not been recorded on QB and there are still outstanding bills on HMRC account?

Let us know how you get on!

Pauline

NickyW · Veteran Member

Hi there - thanks to you all for your help! I went into work today and filed the return!!! First of all I voided the original cheque. Then I filed the return from 1/10/09 til 31/3/10 through QB. The only query I have is that when I filed the return through QB it showed the period as 1/1/10-31/3/10 when I was definitely filing for the period 1/10/09-31/3/10.
I now have a cheque for the past 2 quarters sitting on the register - would you just leave it at that or somehow split it out into 2 cheques )1 for the previous quarter and another for the next quarter?

I am new to Quickbooks hence my questions! so I really appreciate your responses. Somehow I think there will be more (questions) to come!!
Nicky

Stardoe · Guru

Hi Nicky,

Strange about the date...are you sure that it definitely covered the whole 6 months? When you say you hav a cheque for the past 2 quarters sitting on the register do you mean a bill in HMRC's account? If you file the VAT return in QB it creates a bill (invoice) on HMRC's supplier account. When you then pay the VAT you go into Supplier, pay bill and click on the bill on HMRC's account and you will have to put in the amount you paid last quarter (£13K?) and pay that, then you will have to go in again and do the same thing for this quarter's cheque. You can't pay it off as one cheque as it relates to two different quarters and you will need each cheque that you paid to show in the relevant months that you paid them or you won't be able to reconcile your bank account.

HTH
Pauline

NickyW · Veteran Member

Hi there - yes it definitely covered the whole period. I ran the VAT 100 report from 1/10/09-31/3/10 and the figures which were on it were the same as the filed VAT return.
After I filed the return - it didn't produce a bill to pay. However when I went onto the bank register there was a cheque sitting there for the whole amount. Why did it do this and not produce a bill?
Thanks again for getting back to me. NickyX

Amanda · Expert

Hi Nicky,
From memory (not got QB open at the mo), when you go to File the VAT bit, by default it will put it in the bank and not leave it as a bill in the supplier bit. There is a box that comes up when you file the vat and take the Option 'leave unpaid' (i think), and that will send it to the suppliers account, for payment later.

A

Stardoe · Guru

When I click File VAT return it gives me the option to Pay Now or Pay Later, whichever one you click it creates a bill in HMRC's account in Suppliers. The difference between clicking the Pay Now as opposed to Pay Later is that it takes you straight to the Pay Bills window.

Which version of QB are you using?

Pauline

NickyW · Veteran Member

The version I am using is Quickbooks Pro 2006 - however I have 2 jobs and as far as I can see they are both 2006 versions but they are definitely different versions. The job where I had to file the VAT return seemed to be the more uptodate version!
Thanks again for replying!!
Nicky

johnhatt · Newbie

If you want to solve quickbooks issues quickly. you need to contact quickbooks customer service and proadvisor support.

Artois · Guru

I reckon they might have sorted it by now the post is nearly 8 years old

Don't suppose your link will be around for long though!

Cheshire · Master Book-keeper

Oh Doug you beat me to it

This one wins not only the muppet award for the week, but the numpty award of the decade for choosing what has got to be the oldest post ever dug up.

Although, that said, at least his post is relevant to the subject matter......up to a point. Plus he can string a sentence together (will forgive him for the full stop given my typing isn't always the best)

But 'quickly' oh no, that ain't gonna happen is it, when Texas is 5 hours behind us. So you only have at best a 3 hour daily window to get help.

Do your research before dumping content!! But if you are from Quickbooks then pass a message back....provide proper/equivalent support for your UK clients, stop pushing subscriptions and listen to your UK clients and answer the query raised by Chris a couple of days ago. yawn

Now hopefully Shaun will only delete the link and phone number, otherwise this time I'm calling Doug a veis muppet and I would never do that!!!

-- Edited by Cheshire on Sunday 18th of March 2018 09:56:03 AM

Shamus · Forum Moderator & Expert

Texas.... Pah, you're too trusting Joanne.... Although, who would have guessed that someone with the name John Hatt was actually posting from Delhi... Why do they claim to be in America as if that is somehow better???

Only a matter of time before one of these numpties digs up one of the old ICB / training company / Mr Harper threads and we all have to go rushing for the air raid shelters again!

Lol on the inappropriate deletions.

Cheshire · Master Book-keeper

Silly me, I was forgetting the first rules of VEIS dumpers, I was just going off the phone number!

Quickest VEIS dumper record perhaps. Online, post dropped and gone all in the same minute.

Shamus · Forum Moderator & Expert

They are paid to do this on an industrial scale.

New account, paste, close, next... All day, every day, for peanuts.

This is from a (very good) American comedy called Silicon Valley but it's completely legit and this is what sites like this have to contend with.

The key is, they're not doing it for fun. Someone's paying them to advertise so the real enemy is whatever company they are advertising.