In This Chapter
Adjusting your VAT settings
Peeking at VAT items and codes
Checking your VAT reports
Submitting your VAT Return
Paying the VAT due
Handling special VAT circumstances
QuickBooks makes a tedious part of being in business – managing VAT – easy and (almost) painless. And that’s how it should be.
In this chapter, we explain how QuickBooks manages VAT. We show you how to generate VAT reports and submit VAT returns, and talk about how to pay your VAT liability or record a VAT refund. We end the chapter by looking at some special VAT circumstances.
What we don’t talk about in this chapter is the VAT rules. These can be quite complex and the best advice we can give you is to seek advice from HMRC or your accountant for your own specific circumstances.
We also make the assumption that you are registered to submit your VAT online, which most businesses ...