Hi
I have just run my first VAT return through Quickfile and its not picking up at least half of my transactions.
I have checked the VAT allocation on my invoices and all is correct? Confused please help.
What date range are you entering? Can you give me an invoice number that you expected to see on the return that isn’t there?
Also you’re on cash accounting so only those invoices that have payments received in the VAT period will show.
Hi Glenn
Date ranges are 20 Sept 2013 - 31 December 2013 (yes it is late)
VAT reclaimed on purchases and other inputs shows a value of 1505.21. I have purchases from one supplier only that has more than 2500 of VAT value?
I can see one big supplier on your account with 47 invoices but only 6 payments paid from your account to this supplier between September 1st to December 31st 2013, all of which are on your VAT return.
Just to reiterate, on cash accounting VAT is calculated on payments made and received within the return period.
Thats the supplier Glenn. I realise it will only calculate the VAT on what we have paid but when i do the VAT return the value doesnt even cover half of the VAT on their invoices let alone any others?
Did you download the backing report? There are 82 purchase invoices on there with VAT reclaimed.
It all checks out as far as I can see, regarding the large supplier there are 6 payments made in this period, all showing on the backing report with the correct amount of VAT. Can you provide a specific example where the calculations in the backing report don’t correspond with the invoices?
Backing Report? Mmm whats that?
I have only run a test VAT report previously haven’t actually submitted a live one, that is what i am trying to do now as I have received a reminder notice from HMRC…
I obviously need to include everything on that too i guess
If you scroll to the bottom of the return there will be a button to download all the calculations that make up the headline figures.
yea i did that, most of the invoices were all missing. I might have run a VAT before but never submiited, that wouldn’t have any effect would it?
I don’t see any issue, and you haven’t supplied any specific examples.
No, only if you saved the VAT return.
what value of VAT on purchases do you get when you run the return within the dates stated?
I spent over 11k with this one supplier and the VAT on purchases in total for all purchases only shows 1505.21.
What am i missing?
You did but almost £8,000 of those payments were made in 2014 not Q4 of 2013, that’s why they aren’t on the return. They will appear on the 2014 Q1 return.
OK, its just clicked. I really appreciate your support and we are loving the software, just this that has caught us out, and thats us too!
My sincere thanks
Kevin
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