I’m trying to log a purchase but their invoice VAT total is rounded up to 1p more than what is shown on QuickFile. Can I change the decimal places used in QuickFile?
If not, how would I document this in my record keeping? I was going keep the figures generated by QuickFile, so that my VAT submission will be correct, and pay the full invoice (including the extra penny) but how/where should I explain the difference?
Thanks for your help.
They should issue invoice with correct decimal figure, as alternative you can add another 1p line item with zero vat
Thanks for your suggestion, but it’s the VAT total that is 1p more than mine, so unfortunately your suggestion won’t work for me.
(I’m assuming the extra 1p is because their software uses more decimal places than QuickFile.)
I did try to amend one of the VAT entries manually, so it would increase the VAT total by the 1p needed, but QuickFile won’t allow me to enter a figure “greater than what the specified VAT rate would normally allow”.
Would you have any other suggestions?
You cannot claim back vat more then 20% anyhow, you need to ask them to re-issue you correct invoice and make correction to their software.