VAT Flatrate, Sales and Invoice

Hello

My company is start up and we had a flat rate of 11% for the first year. At the beginging of the second year i adjusted it to 12% as per change in VAT flat rate, on running my Profit and Loss report for the 1st year, there is a nominal code 4999 flat rate vat sales adjustment. Can you kinldy explain what this is? May i confirm that the system is not backdating my first year flat rate to 12%. of so how can i adjust?

  1. Invoice,
    When i check my client account for an Invoice older than 12 month, i cannot locate it. Why is this so.

Sales

Am i able to export all my sales data at once or for at least 12 months?

Best Regards

Nominal Code 4999 is for flat rate adjustments, i.e. the difference between your allocated flat rate % and the standard rate of VAT (20%). It’s explained in more detail here.

http://help.quickfile.co.uk/main/1/flat_rate_vat.htm#7

You can only export to CSV 50 records at a time. If you run an account backup then you will get all sales in a single CSV file