By using the accounting data from your forecast, we’ll estimate your upcoming VAT payments. If you make a change to the forecast, it will automatically update that transaction.

To be able to predict VAT in Fluidly, you’ll need to be:

  • On an Accrual (Xero), Standard (QuickBooks) or Cash VAT scheme

  • Paying VAT quarterly

  • Recording VAT payments on the default accounts 820 or 2202 if you’re using Xero


How do I set up auto VAT estimates for a business that uses Xero?

  1. Go to the forecast settings in the top right hand corner

  2. In the VAT section, turn the switch on

  3. Select which months the VAT periods end

When looking at your forecast, any current Fluidly predictions on the VAT line will be replaced by these estimates.


How do I set up auto VAT estimates for a business that uses QuickBooks?

  1. Go to the forecast settings in the top right hand corner

  2. Select ‘Set up’ in the VAT section

  3. Select the VAT Scheme

  4. Select which month the VAT periods end

  5. Select which account line is the VAT Suspense account.

    This is a liability account where VAT is shown on the Balance Sheet for the previous quarter. Once you've made a payment, this normally goes down to 0.

  6. Select which account line is the VAT Control account.

    This is a liability account where VAT is accumulated during each quarter.

  7. Select ‘Finish set up’

All payments and estimates will show on the account line selected as the VAT Suspense account. These estimates will replace any existing regular transactions from Fluidly on this line.

We use the line selected as the VAT Control account as part of the calculation but it will be hidden from the forecast as it doesn't reflect any cash movements.


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