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• # 73799
• Tue 23 Aug 2011 07:43 PM

Hello all,

I am trying to design a file template which I can use to import credit card transactions into QuickBooks once a month when the statement is received.  But I cannot figure out how to correctly record the VAT on any given transaction.  

Does anybody use an import file to enter a batch of transactions?  If so do you need to record the net and VAT amounts separately (How is the correct value of sales calculated for the VAT return) or can you enter the gross amount of each transaction and the VAT codes "E", "S" or "Z" (What would the column heading be)?

Thanx in advance!

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• # 73827
• Wed 24 Aug 2011 11:06 PM

Hi WestOne

I have imported into a new QB file for a client who had virtually no bookkeeping for 6 months. If I remember right the VAT goes on a separate line rather than a separate column. eg rent of £1200, 1k net, 200 VAT:

SPL rent 1000
SPL VAT 200
SPL C Card -1200
(There are of course several other columns to include as well as the '!' words)

Now, my client had already filed VAT returns himself, so it wasn't very important to include the net of VAT figures (boxes 6&7). Unfortunatley I can't see that it is possible to include that in the import. The import does tend to confuse the QB VAT workings slightly as well so you need to know what you are doing!

If you have a spreadsheet as default (perhaps a download) you may be better off journalling through the totals for each month. Otherwise do what you are trying to avoid - enter each line!

By the way there is a help topic called Importing transactions to Quickbooks, have you seen it?

Regards

Andrew

(Edited for format 26/08/11)

Edited at 26 Aug 2011 08:27 AM GMT

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