Our ecommerce business trades mostly through Worldpay & Paypal (which I consider to be ‘cash’ takings) but there are some Trade clients for whom we have to produce VAT and itemised invoices. I am fine with most features of QuickFile (which I love and recommend wherever I can) but I am puzzled by the VAT return because I am using both accrual and (now with QF) cash accounting. My sales figure for the quarter is about 3 times the size of that currently being reported in my draft VAT return? Advice plese
If you go from acural to cash, then of course it will include invoices already claimed by its very nature. You would need to make some manual adjustments within the vat return. I’m sure others will be able to advise.
Hi @LFTA
You can download a backing report on the VAT return screen. Depending on what version of the return you’re using (as we’re rolling out a newer version), you will either see a “Download Calculations” option at the bottom of the page, or “Export” at the top.
You can only use one VAT scheme however, and depending on your scheme, depends on what’s being included in the return.
If you’re on accrual, then all the invoices will be taken into account.
If you’re on cash, then all the payments will be included (including prepayments).
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