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Steps to perform with VAT after upgrading

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What do I need to do with VAT after upgrading to QuickBooks 2008 or later?

Updated: May 18, 2010

Article ID: 1433

Due to vast improvements in how QuickBooks handles VAT, there are some steps you must perform after you've upgraded your company file. The steps differ depending on what version you are upgrading to. Select the version of QuickBooks you are upgrading to below.

QuickBooks 2010

We have vastly improved the upgrade process for 2010 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 version 2008, if you are upgrading from version 2006 (or earler), you will find it helpful to understand these differences (click how VAT work differently...below).

QuickBooks 2008

Important: If you used the Multicurrency feature, you cannot upgrade to QuickBooks 2008. You can upgrade to QuickBooks 2010. Tell me more.

I track VAT on a cash basis in QuickBooks 2004, 2005, or 2006

I track VAT on an accrual (standard) basis	in QuickBooks 2004, 2005, or 2006	I used the File VAT feature for my last return I haven't used the QuickBooks File VAT feature
I track VAT on an accrual (standard) basis	in QuickBooks 2003 or earlier	Click here

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