VAT return is incorrectly showing zero for VAT reclaimed on purchases

Support
1

We are a small tech startup developing our first product, so we have quite a lot of purchases and no sales (yet).

We are VAT registered and we want to claim back the VAT on our purchases for the previous quarter.

I’ve entered about 20 purchase items into the system, each of which include VAT.

However, when I go to Reports-VAT Returns and try to create my first VAT return, all the boxes show a zero amount, including the following boxes :
4th box down - VAT reclaimed on purchases and other inputs (I would expect to see the total amount of VAT to be reclaimed from my 20 purchases here)
7th box down - Total value of purchases exc VAT (I would expect to see the total value of my purchases here)

2

OK, now I’ve figured out where I went wrong. The system had set todays date (2nd Oct) as the VAT filing start date, by default. Once I removed this date in the VAT Settings, leaving the VAT Filing start date blank, then everything worked as expected!

1 Like
3

Glad to hear you were able to solve this, please let us know if we can be of further assistance.

4

This topic was automatically closed after 7 days. New replies are no longer allowed.