We are going to an event where they send you 4 invoices which split the amount equally. They just change the due times on this (+1 month for each invoice).
The problem is all the invoice dates are the same so we have only entered 1 so far into our accounts and we have already done the VAT return for that. We need to add the others in but when we do that they will be entered into the quarter where we have already paid the VAT return. How would be best to go about paying the VAT on these as we have already submitted it? Can we just add it onto our next return?
I don’t submit VAT returns directly through QF (not yet anyway) so I manually have to override the VAT liability etc. Not sure how would be best to do the above?
If you’re entering invoices into periods for which you’ve already submitted a VAT return, you’d just bring these items forward into your next return. If you were using QF to submit VAT returns this would happen automatically.
So just bring the date forward when I enter the return? Then put the date back?
How would be best to start using QF for our VAT returns? Would we need to change anything as we have been entering them direct up to now. I keep meaning to sort this out but I have never got round to it.
In the VAT settings you’d need to enter a new start date, so that QF will only report items on the return after that date.
It’s important when using the VAT return service in QuickFile to submit the returns (even if you don’t electronically send to HMRC), this locks down the items and ensure that for the next period only unreconciled items get brought forward.