Hello. I have about two weeks of duplicated bank feeds. I have tagged them and submitted my VAT return how do I put this right. Many thanks
If you have duplicate bank entries and they are tagged then you will also have duplicate invoices?
If that is the case then you will need to credit these invoices and refund into the bank to correct both the invoice balances and the bank balance
Can I not just delete the duplicate entries?
Because you have submitted your VAT return containing them, you will have to keep them there and credit them unfortunately as this would cause a discrepancy with HMRC wondering where the money went.
I hope this makes sense but if you have any further questions, please don’t hesitate to ask.
I’ve made a real mess of it I think. I rolled back the July-Sept return which I’ve already submitted (not sure what rolled back even means) and deleted the duplicate transactions (in and out). Ran a VAT return for the Oct Dec period and I guessing it includes all the July-Sept Data. Now idea hoe to put it right!!
Rolling back the VAT return in QuickFile will just undo the locks that are put in place when you create your VAT return. It will not change anything that has already been submitted to HMRC.
If you have made adjustments and re-run the return then the figures in QuickFile will no longer match those that you have reported to HMRC.
You will need to work out the difference between these two sets of figures and make a manual adjustment with your next period. I would advise that you speak to an accountant and go over your figures with them to make sure that you are reporting correctly.
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