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Any way to predict a VAT bill in advance?

As QF knows how much VAT has been charged by the company and how much VAT it has been charged, it should be able to predict how much the company VAT the company will owe (or be owed by) HMRC for the current quarter in real-time.

Assuming it does, where can I find it?

Thanks

Hi @fambi

Are you on cash or accrual accounting?

In either case, you can generate a VAT return which will show you the figures for that period as it stands. Nothing will be submitted until you choose to.

If you’re on accrual accounting for VAT, there’s also a summary for the period in the tax summary area (Reports >> Tax Summary).

2 Likes

I’m on cash and your solution makes sense.

Would be great to show the figure in the dashboard.

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