I have come to submit this periods vat return and the figures are incorrect, we do our vat on a cash accounting basis, the value shown as being due is £839.82 more than it should be?
Please could you take a look for me Account: 6131415329
Did you look at the backing report to see the items that make up the total?
Not sure what the backing report is, I basically total all the received values from the front screen and work out what the vat should be from this, I have used this method from day one without any inconsistencies?
The backing report is accessible here and would explain how the figure is made up.
ok, the backing report turnover (cash accounting) for Nov,Dec,Jan does not match the front screen total values for the same period? it is around £840.00 out?
What do you mean by the Front Screen Total?
Sorry Glenn, on the dashboard,
I have found the error, I have a customer who made a payment of £840.00 on the 31st October, this was allocated to Octobers received value on the dashboard, however it was not included in the vat return, even though the vat return date was between 1/8/14 to 31/10/14, I always wait until all payments for the month have been tagged before doing the vat return, therefore I cannot understand why this payment dated 31/10/14 was not included in the vat return?
The payment you mention was added on the 3rd of November at 13:14 although the VAT return was filed on the same day but at 11:50 am.
Ok, so quickfile uses the date added and not the date of the transaction from the bank. the current account in quickfile shows 31st October for this particular transaction?
The allocated payment date is also 31st October?
No it will always use the date on the payment, which in this case is 31st October.
However my point is, you added this payment after you filed the VAT return, so the VAT Return ending 31st October can’t possibly know about this payment yet as it didn’t exist in QuickFile.
Gotcha, I think I must have imported but not tagged, maybe awaiting the remittance from the customer? I will take extra care at the end of each month, thanks for your help Glenn.
No problem, if you miss such payments in future they will automatically get picked up in the next VAT return.