Unlocking VAT period

Hi

Whilst doing some checking on our accounts, I’ve noticed a couple of minor errors on expense payments made to a director which I would like to correct. The expense amount was posted to the DLA, so no actual cash has moved.

The problem is that these expenses have been locked because of last VAT period. The corrections will have no effect on VAT. Is there any way that I can correct these errors?

Thanks

Hi @Harvie

Are they just tagged to the wrong bank account or nominal code, or are there changes to be made on the invoice itself?

Hi

I need to make a changes on the invoices.

Ok, in that case, if you want to change the nominal code of the expense, you could use the bulk re-coding tool (see here)

If it’s more of the descriptions of the lines, or other details on the invoice, you would need to undo the lock. In the case of a VAT return, this would mean rolling it back and then re-saving it.

Hi

Yes, I do need to change descriptions and payment values.

Is it ok roll back this VAT return as it has already been sent to HMRC and paid. I know that my minor corrections do not affect the VAT figures at all.

If you roll it back or re-submit it within QuickFile, this doesn’t affect anything sent to HMRC previously. In fact, if you try to re-submit it to HMRC, they will reject it as it’s already been filed.

As long as there aren’t any changes to the monetary figures (which you mentioned above, there aren’t), then it shouldn’t be an issue. I would just take care to ensure your figures match, and if they don’t, remember to make an adjustment on your next return.

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Fantastic. Really appreciate the superb fast advice.

You guys do a brilliant job

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You just have to be careful if you added any additional purchases or invoices dated within the return period after you submitted the return to HMRC. Any such purchases wouldn’t have been included in your previous return totals and would normally be pulled forward by QuickFile into the next return automatically, however if you roll back and then resubmit those purchases will be pulled into the replacement return on QuickFile - you’d then have to manually adjust them out of this return (to make it match HMRC) and remember to adjust them back into the next one.

Hi Ian

I will not be adding any additional purchases or invoices dated within the return period. My VAT position is relatively simple as I am currently using the fixed rate scheme.

But thanks for the heads up

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