I have switched from flat rate to standard VAT and do yearly accounting but when I run the VAT return it does not show any VAT on purchases.
How do I get the purchase VAT to show up?
Hi @Kevio
Once you edit your VAT settings the purchases should then show the option to enter the VAT value for the individual purchases.
If you have you’ve already saved the purchase invoice, you would need to modify it to include this. We won’t add VAT automatically.
Just remember to double check the calculations just to be sure everything is included.
OK thanks, it’s a shame because its a years worth of purchases.
Do you know how much VAT there would be? It may just be easier to submit as an adjustment on your next return rather than editing all the individual purchases.
The issue with updating previously entered invoices automatically is there are several scenarios that could apply - for example, the VAT rate (and which lines should be what), whether or not it’s reverse charged or even exempt, etc.
This topic was automatically closed after 7 days. New replies are no longer allowed.