Automated calculation of VAT due

[litum]

Hi All

I am new to QuickFile. I wonder whether the tool automatically calculates the total VAT amount due to HMRC?

Any help would be appreciated.

[Paul_Courtier]

If by tool you mean the generated vat return then yes.

[litum]

Hi Paul.

Thanks for your reply. Are you saying that the QuickFile will calculate and automatically populate all the fields for VAT return submission? At the moment, I am doing book-keeping in Excel and it’s very time consuming going through all transactions one by one and doing the calculations for VAT return submission.

[ian_roberts]

Yes. Obviously you have to enter all the sales with the correct VAT rate and purchases with the correct VAT amounts, but QuickFile will then add up all the right items for you and calculate the boxes for your VAT return.