QB Regular 2006 question


R

Richard Kenward

I'm having a problem producing a Transaction detail by account report
for my accountant. The problem is that my reports include VAT and my
account wants them without this tax shown. Try as I may I simply cannot
see how to alter the report to exclude VAT !

I imagine there must be a way as it clearly says at the top right of the
report Note figures include VAT.

I hope someone can help we with this.

Many thanks

Richard

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R

Richard

In his posting of Mon, 18 Mar 2013, Richard Kenward writes
I'm having a problem producing a Transaction detail by account report
for my accountant. The problem is that my reports include VAT and my
account wants them without this tax shown. Try as I may I simply
cannot see how to alter the report to exclude VAT !

I imagine there must be a way as it clearly says at the top right of
the report Note figures include VAT.

I hope someone can help we with this.

Many thanks

Richard
Guys I've discovered in preferences/reports/company preferences that I
can set net or gross and that does remove the note that figures include
VAT. Unfortunately however the reports continue to include VAT ! What
a bummer, perhaps someone can tell me how to overcome this problem.

Cheers

Richard
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H

hkiwori

I'm having a problem producing a Transaction detail by account report

for my accountant. The problem is that my reports include VAT and my

account wants them without this tax shown. Try as I may I simply cannot

see how to alter the report to exclude VAT !



I imagine there must be a way as it clearly says at the top right of the

report Note figures include VAT.



I hope someone can help we with this.

Please call me or send email to me at (e-mail address removed) or +255757800054

Many thanks



Richard



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E

EXT

What version, country edition are you using because in North America it is
not called VAT.

How did you enter the amount with the VAT, were the two amounts entered
separately or as a total?

When I enter an invoice, Quickbooks wants the invoice amount before GST (VAT
to you), and Quickbooks calculates what the GST should be and records it
separately in a tax account -- how does your version do it?
 
R

Richard

In his posting of Wed, 20 Mar 2013, EXT writes
What version, country edition are you using because in North America it
is not called VAT.
Hello

I'm in the UK and using QB Regular 2006
How did you enter the amount with the VAT, were the two amounts entered
separately or as a total?
I enter the amount of the item bought with the VAT together and then it
shows up split into the net amount and the vat amount along with the vat
code.
When I enter an invoice, Quickbooks wants the invoice amount before GST
(VAT to you), and Quickbooks calculates what the GST should be and
records it separately in a tax account -- how does your version do it?
Yes I think it is doing it the same way see above.

My problem is that the Transaction detail by account report always gives
the numbers with the vat included regardless of if I have in
preferences/reports/company details the preferences set to net. The
only difference is that when I set it to net the line saying Note
figures include vat is removed, but the figures do not change! So
frustrating.

Cheers

Richard
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E

EXT

Richard said:
In his posting of Wed, 20 Mar 2013, EXT writes

Hello

I'm in the UK and using QB Regular 2006


I enter the amount of the item bought with the VAT together and then it
shows up split into the net amount and the vat amount along with the vat
code.


Yes I think it is doing it the same way see above.

My problem is that the Transaction detail by account report always gives
the numbers with the vat included regardless of if I have in
preferences/reports/company details the preferences set to net. The only
difference is that when I set it to net the line saying Note figures
include vat is removed, but the figures do not change! So frustrating.
Don't bother trying to analyze the reports, go into the actual accounts,
your expense accounts should NOT show the VAT, it should show up in the VAT
Tax account, so check it too to see where the amounts are going, possibly
you are not entering the expense entries properly. I can only guess, as I am
in Canada, and your VAT and our GST may not be treated the same way. Here we
have items subject only to federal GST sales tax, we also have items subject
to both federal GST and to provincial tax combined as Harmonized Sales Tax
(HST) and we have to enter the appropriate tax code to apply the correct
percentage. We also have different provinces that add different provincial
amounts. The amount of tax paid is applied as a Input Tax Credit against GST
or HST amount collected from clients on invoices issued.
 
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R

Richard

In his posting of Wed, 20 Mar 2013, EXT writes
snip
Don't bother trying to analyze the reports, go into the actual
accounts, your expense accounts should NOT show the VAT, it should show
up in the VAT Tax account, so check it too to see where the amounts are
going, possibly you are not entering the expense entries properly. I
can only guess, as I am in Canada, and your VAT and our GST may not be
treated the same way. Here we have items subject only to federal GST
sales tax, we also have items subject to both federal GST and to
provincial tax combined as Harmonized Sales Tax (HST) and we have to
enter the appropriate tax code to apply the correct percentage. We also
have different provinces that add different provincial amounts. The
amount of tax paid is applied as a Input Tax Credit against GST or HST
amount collected from clients on invoices issued.
Thanks for your help. I've found where I'm going wrong and now I should
be able to provide my accountant with what he wants<G>

Cheers

Richard

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