Apologies if this has been covered elsewhere (and for what seems like it must be a really basic question), but I couldn’t see an obvious answer in previous threads…
I just started using Quickfile last year, but have so far continued filing my (flat-rate) VAT returns outside of Quickfile, as I did previously. Before Quickfile I just used various spreadsheets for my accounting, so manually entering opening balances when transferring to Quickfile. For the VAT returns I used Quickfile to do a quick check of the required numbers, but just filed the actual return myself through the HMRC website (there has been a bit of a transition period from my previous spreadsheet “systems”, and I didn’t want to lock any parts of my accounts while I was still getting everything up to date).
However, I am just trying to finalise my 2020 year-end accounts (due on Thursday!) and no VAT liability is showing up on my trial balance, or chart of accounts etc. I have three quarterly VAT payments tagged from my bank statement however, so my VAT account is actually showing as in credit (i.e. I’m owed a refund according to Quickfile, which is not the case!).
I had an opening balance VAT liability at the start of 2020, which is entered. Do I need to actually create each VAT return in Quickfile for the numbers to show up in the correct place, even if not submitting them through Quickfile?
If so, how will my VAT liability at the end of 2020 be calculated and added to the trial balance, as the VAT return for that VAT owed was not completed until Feb 2020? (Accounting year end - 31st Dec 2020, VAT Period end 31st Jan 2021, so at the end of 2020 I owed some VAT but hadn’t yet completed the return).
Many thanks in advance for any help!