New here - How ( within quickfile software) do I migrate my inputed invoice figures total ( Say 5 invoices at 5k each = £25k for the QTR as an example) over to my blank Quickfile VAT return for submitting to HMRC? - I assumed that this would be done automatically (I am on flat rate scheme (I have inputed my data re this) & signed up with HMRC)
Any help appreciated
It is done automatically. Something is wrong with how you’ve set your vat details up.
Thanks Paul - I checked my additional VAT settings and noticed that I had it set to Cash accounting - I changed that to Cash accrual and thats it gone through now - I still had to manually populate blank VAT form with my figures - Given the simple flat rate system I`m on I thought that the form would populate itself automatically from my Quarterly inputed invoice total - Obviously not
One other thing that might be useful for others - I couldnt see how to input figures re my actual Cash accounting/Flat rate system - i therefore just inputted figures today via new invoices (of convenience) dated on the day the clients cash showed up in my account - via the cash accrual setting - The invoices were set so that they gave the clients 0 days to pay! - worked fine after sorting aforesaid minor glitch…
It will, but if it’s configured for cash accounting then it will use the dates of payment rather than the date of the invoice - if you’d marked the invoices as paid and the date of the payment was within the right quarter, then they would have been included automatically. This is by design - the whole point of cash accounting is that if you invoice a client in one quarter but they don’t pay til the next then you don’t have to hand over the VAT before you’ve received it from the client.
If you’re going to be using QuickFile properly for cash accounting returns going forward, then I strongly suggest you roll back the return you submitted, mark the invoices as paid, then switch to cash accounting and save the return again (without submitting it to HMRC this time, so you’d need to disable online filing in the settings, then save the return, then turn online filing back on). The numbers should agree if it’s just these invoices and nothing else, and they were all paid in full during the current quarter.
If you don’t do this then when you come to do your next return in cash accounting mode it’ll end up pulling in the first quarter’s invoices as well.
Edit: you say “Quarterly inputed invoice total” - do you mean you manually filled in box 6 and expected it to calculate box 1 from that? That’s not really allowed anyway under MTD, there has to be a “digital link” right through from your original invoicing system to your final VAT return so you’re not allowed to manually copy and paste or re-type totals into the VAT return form. If you’re using a system other than QuickFile to generate your actual invoices then you can calculate the VAT return from that in a spreadsheet and upload (not copy and paste) that spreadsheet using the bridging module, but ideally you’d be creating your invoices and logging your payments in QuickFile in the first place and then everything would be automatic.
Ian - that was the problem - My settings were configured for cash accounting - The invoices were inputted with the date of pay in to bank account ( with no days given to pay) & invoices saved and marked as paid - No automatic filling in of VAT form occurred and the VAT submission would not complete - I will ry your way and see if that works - Thanks for your help here
Hi Iain - Marked the invoices as cash accounting & saved but unfortunately cant De-rollback it now in VAT 1/4 summary page ? - just going to have to muddle along till next Qtr filed & try and make fresh start from next time - Just live with roll backed return - Main thing is that HMRC got return & will get their money
Because you’ve already submitted this quarter to HMRC, you’ll have to go into your QuickFile VAT settings page, untick the boxes to “use MTD features” and “enable online filing” and save the changes there. Now if you go back to VAT returns it should be possible to create a brand new return for the relevant quarter, and save that without submitting anything online.
Once you have the return saved, go back to your VAT settings and tick the two boxes again to get back to the normal MTD setup ready for the next quarter.
Thanks Ian - That worked fine - Client invoiced sums/banked figures still not automatically populating the blank VAT return & im having to manually input but I can live with that OK
No, you can’t - under MTD you are not allowed to simply enter figures into the VAT return form directly, and as I understand it QuickFile will not let you submit a return that consists entirely of manual adjustments.
If you are entering invoices and payments into QuickFile and the dates fall within the quarter you’re trying to file then they should populate the VAT return automatically, and if they aren’t then either something’s wrong or you’ve missed a step somewhere - you might need to message the QuickFile staff (@QFSupport) with your account number for them to check directly and see what’s going on.
If you’re doing your books and invoicing in a different system and only using QuickFile for the VAT returns then you have to use the “bridging module” - export your figures from the other package, compute the VAT return box totals in a spreadsheet, then upload that spreadsheet to the bridging module (not manually type in the numbers) to maintain the chain of “digital links” from the original invoices to the final VAT return.
the input invoices ( I average 3 or 4 per month) certainly not inputting themselves Onto the blank vat Form - & the manually inputting certainly working ok re sub missions to Hmrc - I’ll take your advice & contact QuickFile direct ( thanks for email address - re associating my vat With my accountants bookkeeping software - they would set me up to do this for ££30 per qtr if I filled in invoices & submitted & £30per month if they took on my vat - it is a 20 minute job for me! - so not too fussed about the letter of the law re hmrc vat returns - just a thoughtless hmrc and opportunistic accountancy industry trying to squeeze the little guy out of self employment it seems sometimes … - it’s a major gripe for me that two man band Ltd Cos ( and sole traders) are weighed down with the same tax regime and disproportionate costs of same as the likes of BT & Asda in this country
As an accountant, I can tell you that we are not opputinistic thanks very much. In fact plenty of us have voice our opinion regarding making tax digital for years and are against it completely. In fact the new regime coming in April 23 is again something we are against. Guess what, you’ll probably end up fudging that as well as I’m afraid it’s much the same except this time it’s replacing self assessment.
Also, many of us this year have been working for free to help our clients with furlough and SEISS claims, again not opportunistic.
Your accountant would have explained to you the process in which the law dictates. You may think it’s pointless, but you will quickly change your views when you have a vat enquiry and they ask you to prove how your submissions are digitally linked. You can’t.
Quite frankly if your accountant knows this is how you are operating your vat scheme I’m surprised he hasn’t disengaged you. Or at the worst submitted a SAR for potential money laundering.
If you can’t do it properly, pay an accountant who can, it could save you a lot of trouble and added penalty charges when hmrc finally discover this is how you do it.
Or at least try and apply for exemption due to being digitally excluded.
Or carry on as you are and run the risk, your choice.
But please, don’t think for one moment any accountant is party to the silly rules hmrc make up. We’re not.
Fair enough Ian - Complicating the tax system for the layman & digitising it probably makes it all cheaper, quicker and easier for accountants ( a populated vat submission at press of a button - and all chargeable to clients for example) - accountants on the free market only human - they will charge what they can till the market balances - at the mo wee companies have almost no choice but to refer previously simple tasks Like a standard rate vat submission Onto their accountants software - At inflated rates In the short term at least - my Only other choice is to keep my own books with new software etc - as you can tell by my initial query not as easy as it looks for a beginner - Also we have quite enough to do with the day job - hmrc are the enemy of small business - there is no doubt - shortly we will not only have To administer and pay tax re subcontractors but also their VAT as well - whilst hmrc pick up the fines from overburdened business owners making mistakes - Sorry if you’ve been included in my general anti hmrc/accountancy rant - I appreciate there must be one or two decent yin’s out there
The thing is, hmrc think that by making everything digital it’s meant to make it easier for the layman. Accountants have told them it won’t, and it will only lead to more errors, hmrc won’t listen. Software companies like quickfile try their best to make it as easy as possible for a taxpayer to do their own accounts, but we know that it can never replace the knowledge and training accountants have had to do for years to understand the processes and legislation.
Hmrc secretly see it as an increase in tax take, over claim and risk added penalties, under claim and risk increased vat and tax charges.
I agree some accountants will charge for anything and everything, but most just want to charge for a service reasonably.
The thing is sometimes ppl say they can’t afford an accountant but truth is, whenever you start up a new business you should always factor in accountancy fees as part of the costs, because it can save you money in the long run.
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