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What do I need to do with VAT after upgrading QuickBooks

Improvements in how QuickBooks handles VAT were made in QuickBooks 2010. All newer versions will share the same features and steps, unless noted. If you are upgrading from a version prior to 2010, there are some steps you must perform after you've upgraded your company file.

 

 

QuickBooks 2010 and newer

We have vastly improved the upgrade process for new QuickBooks versions, especially when handling VAT issues that QuickBooks detects when it converts your company file.

After your file is converted, the Upgrade Centre pops up. It tells you what your next steps should be after conversion. If it detectes that you have underpaid or overpaid VAT, it will inform you of this and provide a link to resolve these unreconciled transactions.

It is important to fix these amounts 'before' you file your next return (click Resolving unreported / unpaid VAT amounts). If the Upgrade Centre doesn't detect unreconciled VAT amounts, you do not have to do anything more.

Because the VAT feature was overhauled in the 2010 version, if you are upgrading from version 2006 (or earler), you will find it helpful to understand these differences (click how VAT works differently...below).




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