Just to give an update on this here. We did identify a small issue relating to VAT when the VAT amount wasn’t specified. This is currently with our development team.
OK thanks. I’m kind of stuffed Any idea of timescale for a fix?
I don’t have a timescale at the moment, but we will keep you posted.
Where were the payments made originally? Was it from an ecommerce site for example? I’m asking, because there would be a record of the VAT amounts somewhere, so importing the invoices using an export from there rather than PayPal may be the best way to achieve to at the moment.
The sales are from ebay, there isn’t VAT on the invoices they produce. Paypal really is the best record of ebay sales. Maybe there is another way around what I need to achieve.
Basically the situation is that my current software isn’t MTD compatible so I need a new accounting solution. I like QF best from what I’ve tested.
I need to create accounts from the period 1st Oct 2019 to 30th April 2020, this is my first VAT period I need to report.
I have two bank accounts. A current account and paypal.
I have CSV statements for both. The bank account imports fine and contains few transactions which are mostly transfers from paypal and then payment to my personal account(drawings).
All of the problems are with paypal. What is the easiest way to get my sales and fees into Quickfile so that I can reconcile and submit a VAT return? This is all I need to do but I’m struggling.
Initially I thought to create invoiced from the paypal csv and then mark them paid from the paypal balance which in theory should work fine. However at the moment this isn’t possible. Also being limited to 500 lines at a time is a pain also.
It shouldn’t be too hard to copy your paypal csv data over to a csv you create yourself, just remember to use the correct headings for each column and then import.
If VAT is applied to all sales its simple enough
Issue Date, Invoice Number, Client Name, Description, Total gross amount.
Use those headers, copy and paste your data in to the new csv under each of these columns.
With regards to paypal fees. again create another csv file and copy paste the data over, using these columns
Date, Supplier name, Description, Total gross amount, VAT total, VAT rate, Purchase nominal code
if theres no vat, just have the vat total and vat rate set to 0.
These above headings for both sales and purchases importing work perfectly fine for me, so it shouldnt cause you any issue either.
Thanks. Still not working.
test import 2.csv (242 Bytes)
Those aren’t the headers I said to use so I can’t say whether it would have worked or not
It shouldn’t matter really what the headings are as the 1st row is ignored and the columns are mapped to where QF wants them. It’s a bug, maybe it wasn’t there before.
In your latest import, are you specifying the amount of VAT for the invoices, in their own column?
No he isn’t. Which is why I suggested he followed the above headings which are all in your guidance under importing
No, that info isn’t in the exported statements from paypal so I’ve not put it into the test files.
I think the issue IS the fact youre not sepersting the vat. Example vat on 6.99 is 1.167. Rounded up is 1.17 if that’s added back to gross, gross then becomes 7 not 6.99.
@QFMathew is vat on sales rounded up in qf? Shouldnt sales be rounded down?
There isn’t VAT on the CSV just gross. So how do I get round this?
I really need to get my first VAT return in. My end date is 30th April, could I delete everything in QF upto this date and then manually input the the figures into QF VAT return for filing? I have accounts for the period but they are in non MTD compatible software. I don’t know what HMRC’s expectations are, I assumed it was that you just pay your taxes but that can’t be right or they’d make it a lot easier!
If you know that the gross includes vat. And by that I mean, you actually know this to be true. Then it really is not that hard to manually add the vat amount to a csv file. If you use the headings I explained in my previous post. The gross is simply divided by 6 which gives you vat at 20%. You can either manually work it out and add it in the vat total column or you could use an excel formula to calculate it automatically. This would be the easiest way to do it.
Advantage to doing this is, you explicitly state the vat amount so no rounding up will happen. Any vat figure on sales that shows something like 1.668 as an example round down. With purchase vat you would round up.
With regards to manually entering your vat. If you are not enrolled in mtd then yes providing you have a record elsewhere you can manually enter the figures.
However if you are part of mtd then no you can not, because you need a digital link between the data and the submission. Copy and paste is not allowed under mtd. I’d recommend reading up on mtd requirements to understand why this has been implemented.
OK thanks I’ll try it that way.
This topic was automatically closed after 7 days. New replies are no longer allowed.