I am starting to use quickfile for my new financial year and have made a VAT payment in the new year but it relates to VAT incurred last year. How do i put in an opening balance for the VAT so the my control account will show zero as it should.
You should have opening vat liability from last year, did you enter your opening balance sheet?
yeah i have the figure just not sure how to enter it on quickfile.
Click on Reports > Journals
what should the journal look like?
You need to enter all your opening balance sheet for new financial year
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