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How does My Bookkeeping Online do VAT returns?- During the registration process, tick the box that asks if you are VAT registered.
- Then, the first time you select VAT Report, in My Reports, you will be asked more detailed questions about the registration that will ensure that the VAT Report is properly prepared:
- The VAT number
- The VAT period will normally be “Quarterly”, but may occasionally be monthly or annually.
- If you have selected quarterly, then select the appropriate quarter dates
- If you are a member of the VAT flat rate scheme, then enter the rate that applies to your business in the next box.
- Finally, select either Invoice Date or Payment Date depending on whether you accrual account or cash account for VAT.
- To change your VAT details:
- Click on “Edit Business Details” in Quicklinks, or
- Go to My Settings, click on My Businesses, and then click on the name of the business.
- Scroll down the page to the section called VAT Information, and make the changes.
- Make sure that the correct VAT rate is selected when you are entering sales and analysing purchases.
- The VAT Return report (which mirrors a paper VAT return), which can be accessed at any time, will be prepared for you automatically.
- You can monitor the accruing “VAT liability” for the current period in My Key Categories on the Dashboard screen.
- During the registration process, tick the box that asks if you are VAT registered.
- Then, the first time you select VAT Report, in My Reports, you will be asked more detailed questions about the registration that will ensure that the VAT Report is properly prepared:
- The VAT number
- The VAT period will normally be “Quarterly”, but may occasionally be monthly or annually.
- If you have selected quarterly, then select the appropriate quarter dates
- If you are a member of the VAT flat rate scheme, then enter the rate that applies to your business in the next box.
- Finally, select either Invoice Date or Payment Date depending on whether you accrual account or cash account for VAT.
- To change your VAT details:
- Click on “Edit Business Details” in Quicklinks, or
- Go to My Settings, click on My Businesses, and then click on the name of the business.
- Scroll down the page to the section called VAT Information, and make the changes.
- Make sure that the correct VAT rate is selected when you are entering sales and analysing purchases.
- The VAT Return report (which mirrors a paper VAT return), which can be accessed at any time, will be prepared for you automatically.
- You can monitor the accruing “VAT liability” for the current period in My Key Categories on the Dashboard screen.
