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VAT return doesn't match chart of accounts

I’m an amateur/small business do it yourself accountant using quickfile so there is probably a very simple and reasonable explanation to my query.

I’m preparing my VAT return for the last period and have noticed that it doesn’t seem to match the chart of accounts for the same period.

My purchase tax control seems to correctly match box 4 on the VAT return (VAT reclaimed on purchases and other inputs) but there is a small discrepancy (just over £1) between box 3 on the vat return (total vat due) and the sales tax control account.

Any suggestions why this might be?

It’s related to CN00013 which is a credit note carrying £1.17 in VAT. This credit note is from 2014 but was entered after the previous VAT return was filed. It’s therefore getting brought forward into the 2015 Q1 return.

Thanks Glen. Great support from you guys as always!

1 Like

Sorry to drag up an old thread but I have a very similar situation as I am preparing my next VAT return.

I’m sure there is an obvious answer and it’s probably related to Cash Accounting(??) or the difference in dates of Y/End accounting period and VAT Periods…??

In the Tax Summary page, VAT section -
Accumulated Sales VAT is £2,072.16
The VAT Return for the same period is showing £2,109.90, a difference of £37.74


I’m being a bit picky and just trying to get my head around how Quickfile works…??

Thanks for your input,

neil

Probably, yes. If you’re on cash accounting then your VAT return is based on payment dates, but your balance sheet/CoA is always based on invoice dates (accrual basis).

OK, I think the ‘discrepancy’ is a bit of a red herring - it just happens to be the case that payments received for the period 1/4/19-30/6/19 (for invoices mostly issued in Q1) is quite close in value to the amount of Accumulated Sales VAT for Q2 ???

(Thanks Ian, your reply arrived whilst I was composing my response above)