VAT Flat Rate Scheme

Hi, I have setup QuickFile with VAT Flat Rate Scheme (Cash Basis) and I am entering all purchase invoices as a gross total and entering all sales invoices with 20% VAT, and this all works great.

When it comes to a VAT quarter submission does QuickFile show a difference (ie. Standard vs FRS). I was reading somewhere that if we make a gain by being apart of VAT FRS then we need to journal this gain back into the sales accounts.

Would really appreciate your help. Many thanks for your time.

Oh ok I think I have found what I am looking for. Will read this now, sorry

http://help.quickfile.co.uk/main/1/flat_rate_vat.htm