I am a very new user to Quickfile, I have added one invoice dated 25/1/22 with VAT an then tried to create my 1st VAT return 01/11/21-31/01/22 but the data is not automating being added from my invoice.
I tried adding manually but not sure that correct? Please advise
Are you on cash or accrual accounting? And if cash accounting, was the invoice actually paid on a date within the Nov-Jan quarter or was it paid in February (or has it not yet been paid at all)?
Its cash accounting and was paid in February.
In which case there’s nothing wrong. Under cash accounting you declare each invoice in the quarter when it was paid, not the quarter when it was raised. If it was paid in February then it belongs in your Feb-Apr return.
Conversely of course, you can only reclaim VAT on your purchases once you’ve paid for them - if the supplier invoices you in January and you pay them in February then you don’t get the benefit of the VAT reclaim until you’ve submitted the Feb-Apr return.
1 Like
Thank you very much Ian
If you’re ever unsure why something has (or hasn’t!) been included in a VAT return by QuickFile you can use the “export” button on the return preparation screen to download the full list of exactly which items make up the total in each box.
1 Like
This topic was automatically closed after 7 days. New replies are no longer allowed.