Just generating the VAT report for my last quarter. I am on cash reporting. Quickfile is showing total value of my purchases during the last quarter as £8652 even through the correct figure as shown on the dashboard and other menus as £1644 and the associated VAT figure is correct.
Any idea what it is doing? Been using quickfile for a year and never had a problem before? Should I just put the correct total purchase figure in the notes and submit?
When you’re on cash accounting it’s the date of payment that matters rather than the date of the sales or purchase invoice. If you use the “export” button at the top of the vat return preparation screen that will give you a CSV showing exactly what goes into the totals for each box, does that shed any light on things?
Thank you for your email. Mining that data out as you suggested showed that there had been a £7000+ overpayment applied to one invoice. I have been in and edited that line out but the vat report is not updating from the revised figure. Am just submitting the report with a box 7 adjustment. Maybe quickfile takes a while to refresh the figures?
Helen.
What exactly do you mean “edited that line out”? Have you changed anything in QuickFile or are you just editing the CSV that you downloaded?
Has this overpayment been refunded by the supplier or is it a genuine payment that they’re holding on account against future purchases? If the former then recording the refund properly in QuickFile (“refund balance” on the unallocated payment record) should have fixed up the VAT return, if the latter then there’s nothing to correct - you’re on cash accounting so pre-payments like this are supposed to be reported in the quarter where you paid, not the quarter where the payment was assigned to actual purchases.