We have recently bought a truck using finance, we put the whole invoice on but as it is on finance we only want it to show as the deposit. This was in the last VAT quarter so we can’t seem to adjust it, please can you offer some advice as to what we can do?
Also we have a duplicated credit from a company that is from last year, how should we rectify this so the bank accounts match?
Any advice gratefully received!!
Many thanks
Hannah.
Hi @Hannah-Keel
It may be best to ask your account how they want you to handle this. However, I have found this post that may be of use to you: Hire purchase steps please - #6 by ian_roberts
When you say:
Do you mean that the company has taken money from you twice, or that it is showing in QuickFile twice but the money has only been taken once?
Thanks Sian. I will speak to the accountant.
re the second query the money has been refunded once but two credit notes have been put on the system which has made the bank not balance. We can not delete one of them as they are in the last VAT quarter so its locked. Do you have any idea how we can rectify this? Is there anyway of deleting invoices from completed quarters?
Many thanks
Hannah.
Hi @Hannah-Keel
You cannot delete invoices that have been included in a VAT return - if the VAT return has been sent then you would need to adjust the figures for the next return.
The best way to do this would be to create an invoice cancelling out the duplicated credit note making sure that all details are the same (Date, amount etc). When you come to run your next return the correction invoice will then make the adjustment.
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