HOME / COMMUNITY Switch to knowledge base

Invoices and VAT

support
#1

Hi.

I now need to include VAT on my invoices.

Is there an area on the invoice where I can insert the VAT amount and do I then need to enter both the gross and net amount as a purchase?

I’m sure this basic question exists already but I’m not able to find it.

Thanks, Darren

#2

Hi @Darren21

If you go to Account Settings >> Company Settings, you can input your VAT number and tick the VAT Registered box. This will automatically add a VAT column to your invoices.

#3

Thanks Matthew that seems straight forward enough. The invoice (including VAT) occurred back in October and I’ve already been paid. How do I create an invoice, noting it was paid back in October?

Darren

#4

Hi @Darren21

I just want to check - do you mean the invoice was raised without VAT, but VAT actually needs to be charged on it as of the date it was paid (or even vise-versa)?

#5

Hi Matthew

I seemed to have resolved this problem now.

However, I’ve completed a VAT tax return with HMRC (independent of QF)
and I now need to reflect it on QF and show the entries on the dashboard.

How do I do that?

#6

Hi @Darren21

Would you mind me asking if you’re MTD registered? The process you need to go through will depend on whether you’re registered or not.

#7

Hi Sian. Not sure what ‘MTD’ means?

#8

Hi @Darren21

Sorry for that. It stands for Making Tax Digital. VAT-registered businesses with VATable sales above the VAT Threshold are required to digitally record their bookkeeping and submit VAT returns using MTD-compatible accounting software.

#9

Hi.

No, I’m not MTD registered.

#10

Hi @Darren21

If you go to Reports >> VAT Returns, you can start a “submission” there. Just ensure that any boxes labelled as “submit to HMRC” are not ticked, and it’ll just be saved to your account for you.

#11

This topic was automatically closed after 7 days. New replies are no longer allowed.