Excuse the rookie questions - we’re just moving for the first year and VAT quarter to quickfile and are struggling with the features a bit.
We’ve imported 83 bank transactions from a CSV file, tagged them and reconciled them with a “Perfect” result but nothing is showing on the VAT report for the quarter (there are many purchases and one sales invoice currently - all of which have been paid or received through the bank).
I’m guessing it won’t hit the VAT return until it’s reconciled, but regardless of whether I reconcile a month or all 83 transactions at once nothing seems to happen. I’ve tried in Chrome and Safari in case it’s some kind of browser issue, but we’re at a loss again with what to do.
What are we doing wrong please? Any help much appreciated!
It’s a bit tricky to say without looking into the specifics of your account, but there are a few things to check:
Are you set up for cash or accrual accounting for VAT?
If you’re on the cash accounting scheme, untagged entries won’t be picked up.
Are the transactions associated with a supplier or client in some way?
Any payments linked to an invoice or as a prepayment for a supplier/client will be picked up on the VAT return. Direct tags to a nominal code or through a journal won’t be.
Have you entered a start date in your VAT settings?
If you have, any transactions prior to this date will be ignored. Likewise, having no start date will pull everything in.
Are there any transactions in your calculations report?
Each VAT return on QuickFile comes with a “Download Calculations” option at the bottom. This will give you a .csv file containing all the data we’ve used to calculate the VAT return.
I hope these pointers help, but if you still need a hand, let me know and I’ll open up a private message with you so I can take a look
Thanks for the quick reply!
Yes, we’re set for cash accounting.
Yes, the transactions are all associated with invoices etc, that’s how we tagged them from the bank import.
No, there’s no start date for VAT so it should pick up everything.
No transactions on the VAT report at all.
Happy to give our login for you to take a look
Let me send you a private message to grab an account number, and I’ll take a look for you.
You should see a green notification in the top corner shortly.
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