Vat payment from opening balance (no open bank feed)

How-to
1

I have a vat opening balance from a previous vat quarter (prior to starting QuickFile). I do not use open bank feed and now the payment has appeared on my bank statement and I don’t know how to post the payment against the vat liability.

2

You can create untagged bank transactions using the green “new transaction” button at the top of the bank account view, then tag those in the same way you would if they had come from a feed. Presumably you have the VAT liability showing on your balance sheet from the opening trial balance you brought over from your previous accounts, so tagging the payment should cancel this out.

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Dear Ian,
Thank you very much for your explanation in response to my accounting problem. Your explanation was very clear and I was able to make the post. It has given me a better understanding on how this program works and I am very grateful.
Thank you very much.

Regards,

Chris

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