When assigning payment to a supplier account from bank transaction is the VAT column relevant??
It matters if you’re on cash accounting.
If you have a payment that is not yet allocated to an invoice and you submit the VAT return for the quarter that includes the payment date, QuickFile will use the VAT percentage you selected here in order to estimate how much of the payment is VAT so it can be accounted for on the correct return. When you subsequently assign the payment to an invoice, that action pins down the actual VAT amount that this payment included, and if this differs from the estimated value then the correction will be applied on the next return you submit.
Thank you so much Ian for explaining it so clearly 
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