I've tagged some transactions and they've now they're locked on a VAT return

Hi i have done some tagging in the wrong order i think and don’t know how to correct this , i hope you can understand what i am saying here.
From the Bank account i have made two payments one for £167.22 and £172.85 which were payments to the Barclaycard credit card account , these payments have been locked as a VAT period finished so i can’t un tag them and the money is sitting in supplier account Barclaycard Commercial saying payment was made and has not yet been allocated to any invoice, remains unallocated . I usually just tag as transfer between two accounts
But on the Barclaycard account i had not put all the transactions on ,which i have now and i can not tag these two payments as a transfer from Main bank account as it doubles up on the main bank account figures. how can i get the money out of the supplier account and get these two credit payments tagged on my Barclay Card account

Hello @mummyhodglim

You have two options:

  1. Roll back the associated VAT return and then re-run it
  2. Refund the amount

Option 1 will allow you to amend/delete the entries as required. This would however mean that if the VAT return has already been sent to HMRC, you may need to notify them of the error.

To rollback a return, providing it’s your most recent one, you can view the return itself on QuickFile and click “Rollback” at the bottom. This will completely undo the VAT return on QuickFile - but it won’t notify HMRC (neither can you resubmit a new one to them).

Option 2 would create 2 reversing bank transactions. It does mean you would end up with more transactions on QuickFile than what you actually have as you’ll end up with the two incorrect transactions, plus the two reversing transactions, on top of the two correct transactions.

This would also mean that when it comes to your next VAT return, QuickFile will automatically pull in the two reversing transactions. Just be sure to double check the backing calculations before submitting them to HMRC.

To create the two reversals, if you view your supplier and then click View >> All Payments, find the payments themselves and view them, and then click Refund Balance at the top. There are some more detailed instructions here (with screenshots), that may help.

For reference, I’ve also included the HMRC guidance on reporting errors:

I hope this helps!

Hi Thank you so much for the quick reply , the Vat roll back seems the best option it was my last recent one, will my next VAT return figures be ok if i do this rollback

If you roll it back and make changes, then the return will be different. If it works out that you would owe more VAT, then you may be able to report it on your next return as a manual adjustment.

I recommend downloading the calculations of your existing return so you have a copy of the figures before and after any changes, and you can go from there.

Thank you so much for helping me sort this and explaining it all to me

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