Is there a way to edit purchases after they’ve been entered into QF? Reason being, we’ll shortly be registering for VAT and need to go through some previous invoices from suppliers and add the VAT information so that we can claim it back. The total value will remain the same, just the VAT total will be added.
I’ve tried to edit existing purchases but can’t see a way to add it.
You need to be careful when it comes to back dated vat reclaim on inputs, not all purchases and expense qualify for that purposes, best get paid advice on it or do some detail research.
As for editing purchase invoice it can be done via going to purchase invoice itself and clicking on modify (make sure its not under locked period, you can change lock date though)
I wouldn’t approach this by editing existing purchases, since as FaradayKeynes states only some past purchases are eligible for VAT reclaim and it’s only those ones that you want to add to your first return boxes 4 and 7 - if you edit purchases as you’re suggesting then you’d have to set your VAT start date in QuickFile back to before the earliest of these purchases, and then all your purchases and sales invoices from that date forward would be pulled into boxes 7 and 6.
Instead you’ll probably have to determine which purchases you can reclaim and then make manual adjustments to boxes 4 and 7 on your first return, then journal to the “manual adjustments” nominal to balance things out - for each purchase where you are reclaiming the VAT you’d have to journal the VAT amount as a credit on the original purchase code and a debit on “manual adjustments”.
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