Hi
I’m, preparing to send my 4th Q VAT return and have noticed that I have included VAT on a charge, when none was due. How can I adjust the invoice to remove the VAT? I should mention, that the charge is a recurring one and I’ve set up the tag to recognise subsequent invoices (minus any VAT), when they hit my account.
Hope you can help.
Thanks, Eddie
Hi @EWP,
You will need to go into the invoice and modify it to change the VAT rate to 0%. This should hopefully fix the issue for you.
If you haven’t already submitted your return and you haven’t sent the invoice to your customer then you can just go in and modify the invoice before you submit the return and it’ll adjust itself automatically. If the invoice is already locked or if you have sent it to the customer then you’d be better off credit-noting the wrong invoice in full and issuing a brand new corrected one with a new invoice number.
I’d always avoid directly modifying a VAT invoice once it has been issued, better to credit and re-issue to maintain the audit trail.
Also, if you are using cash accounting then that summary will be wrong because its based on invoices/receipts not money paid in/out
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