HI i have been using QF since the start of the year and not had any problems , submit VAT quarterly. preparing to submit for the period aug, sept, nov. my problem is the Vat report shows total sales 6 invoices where as actual sales are 11 invoices. If i run "Chart of accounts for 1st aug to 31 nov all 11 invoices are present. The missing invoices are randomly distributed over the 3 month period. I do have to use Contra invoicing on most of my sales invoices, these sales and purchase invoices are marked as paid from a holding account (as directed by QF support). has been working ok up to now. If i use the excel data from the vat return all 11 the contra purchase invoices (with the vat element) are showing but only 6 of the associated sales invoices are shown. (most of my sales are zero rated as livestock but have market fees deducted with vat) Can attach some screen shots if that helps or call me ************(john)
Are you on cash accounting? If so then QuickFile builds the return from payment dates, not invoice dates - if the payment for an invoice was made outside the quarter then it won’t figure in the return.
yes on cash accounting and all invoices were marked as paid on the invoice date ( for ease) then the transfer out of the holding account was done by tagging the actual amount on the bank statement on the date shown on the bank statement. so all were paid in the vat period. this is the same as has been done over the last two quarters
I’ve now taken this into a private message so I can get a few more details about this.
OK how does that work? would you like some screen shots to help explain
You should see a little green icon in the top right corner (by your avatar).
@QFSian has asked some further questions there - if you could reply there, we’ll take a look into this for you.
got it thanks will get that done
If you don’t mind me asking - if all your invoices get paid on the invoice date then why do you bother using cash accounting? The usual point of cash accounting is so that you don’t have to settle the VAT from your credit sales over to HMRC until your customers have paid you. If you take credit from your suppliers but don’t offer credit to your customers then you will have better cashflow on standard accrual-based accounting as you can then reclaim the VAT on your purchases as soon as you have been invoiced for them rather than having to wait until you’ve paid the supplier.
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