In Quickfile, I paid from my Wise GBP bank account a euro purchase in error in the previous VAT period. I should have entered paid from my Wise EURO bank account. Now that I am trying to reconcile my bank statement manually the amount I paid is not showing. That was in the previous VAT period which is closed. The action I tried with no luck is as follows:
I go to the “Dashboard - Purchase Management”.
I view the purchase
I can read “This transaction has been locked as it relates to a previously submitted VAT return. You can continue to log payments against this invoice but you cannot change the amount or items.”
I click on “A payment #PP000002 has been attributed to this purchase”
I click on the Account used. There I can only select a GBP account.
As I paid from the EURO account my Wise EURO statement does not tally.
Is there anything I can do to tally my bank statement?
Many thanks in anticipation.
I would reverse it out and process it again correctly
e.g. 01/11/2022 Invoice €100, process a credit note on 01/11/2022 for €100 (reversal)
01/11/2022 payment £100, process a refund note on 01/11/2022 for £100 - Wise (reversal)
Process again correctly
The next vat return will show the credit note reversal and the new invoice which will net off.
You Wise bank account will show £100 Money Out and £100 Money In which will net off.
Thank you that is most helpful. Just in case you do not mind, can you confirm that this applies to a supplier’s purchase? That was not an invoice to a client. Many thanks in anticipation.