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• # 82683
• Tue 08 May 2012 09:57 AM

Has anyone come across this situation before? I've been handling the books for a company for some years now with no trouble in preparing the VAT return. In January we started a new company so set up a new company (vatable) in quickbooks. Since then its been allocating all the S rated transactions straight to the VAT liability account rather than the control account. Hence when running the VAT return, no figures are generated. Z rated are sent to the control account, but thats not helpful. Ive been in touch with Quickbooks helpdesk and guess what, since we are running 2008 its not supported and they refuse to give any advice at all. How helpful is that!!! I have also tried putting a journal entry from the liabilty account over to the control account with the VAT total dated the end of the VAT quarter, but its not helped either. Any thoughts?

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• # 82696
• Tue 08 May 2012 02:36 PM

Hi there,

Have you set up HM Revenue & Customs Supplier as the VAT Agency and checked to see what account VAT on purchases and sales are being tracked to?  There should be two boxes on the Supplier account, one for Sales tax and one for Purchase tax.  There are drop down boxes to choose the account.

I only have one VAT Control account which is set up as a Current Liability.  All VAT items are posted to this....on the debit side if it's purchase tax and credit side if it's sales tax.  When you run the VAT return, file it and then pay the resulting amount through the supplier account then the amounts get automatically journalled out of the VAT Control account.

Hope this helps

Pauline 

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• # 82698
• Tue 08 May 2012 03:01 PM

Hi Pauline,

Thanks for response, however I have already checked all those settings. You are correct in stating that  there is just one control account, nothing has changed there. The only thing that is different is the allocation in the items list.  VAT on sales/purchases is now allocated to the liability account, not control. Cant see any way of changing that.

Glad for your input.

Richard.

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• # 82703
• Tue 08 May 2012 04:45 PM

Hi Richard,

So you have a VAT Control account and a VAT Liability account?  The way to change the account that the particular code in the item list is allocated to is by changing the account in the HMRC VAT Supplier - Edit Supplier - VAT Agency Info window.

Pauline 

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