Thank you very much the response, which I fully understand. The only slight difference we have to the above scenario, is that the ‘bad debts’ were amassed prior to us becoming VAT registered and often are £1.50 remaining against an invoice, all of which just want tidying up in Quick File (Good housekeeping as it were!), does this change your response at all?
I do have another quick question that you might be able to help regarding supplier invoices and VAT if you wouldn’t mind. We are into our 3rd VAT return as a business.
What I have noticed is that once the figures are locked down in QF for a VAT quarter, if you then input a supplier invoice pertaining to that locked down quarter, the VAT is coded (2201) to the invoice date which falls in that locked down quarter. How can that be as the return has been completed?
Does QF somehow now that that VAT hasn’t been paid and when the next return is created, it’s somehow moves that VAT into the next quarter?
So in a real world example, I have just inputted a supplier invoice that arrived here late with a December 2019 date. When I go into the Nominal code 2201 the VAT element of that invoice appears with a December date on, surely, I shouldn’t be able to do this?
Any advice and guidance is very much appreciated.