Postponed VAT corrected with extra invoices

Continuing the discussion from Postponed VAT Question:
Hi @QFBeth This was a helpful conversation but just wanted to check where you would show funds coming from for crediting the first invoice? I can see me trying to follow this advice and getting in a mess with credit notes. As there are a few ways of crediting an invoice within QF what steps would you do?

Also, I’m wondering if there has ever been feedback on whether it is really appropriate for accounts to have 2 invoices in QF for one actual purchase? It’s just one has been credited to neutralise it in effect. I don’t know if it matters. But I also don’t want to get into trouble for having duplication of invoices across VAT quarters.

Many thanks,

Hi @Susiec,

If you are crediting an invoice that hasn’t been paid then the credit is just applied to the invoice balance there will be no bank transaction relating to this.

As far as I am aware it doesn’t matter the number of invoices as long as the VAT and Net values all balance with what’s included in your VAT return. But if you want to be sure then it may be best to speak to your accountant

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