I’ve made some GJ transactions this quarter for a VAT correction related to rebilled expenses.
My next automated VAT return (31 Jan) is showing a huge (10x) Sales and VAT amounts. Not sure if it’s related to my adjustments.
How would we know which such limited information?
What did you do to adjust the vat return?
Sorry to hear that you’re having problems with your VAT return. Would you be able to provide me with any more information related to what changes you made and how you expected this to affect your account?
Just wanted to open the discussion and wasn’t sure if you can view my records - I find it difficult to explain this concisely in words.
I made some corrections recently to adjust VAT for recharged expenses. As I have evolved with QF I haven’t used the built-in rebilled expenses feature - my expenses aren’t always one-for-one and my client wanted it all on one invoice, so I did it manually once and just continued. Anyhow, I’ve only just realised that my VAT returns have been overstated because recharged expenses were not offset from sales. No problem I should have realised earlier.
So I made some GJ adjustments to Sales Tax Control Account, VAT Liability, Flat Rate VAT Sales (another complication!) etc. And now my accounts reflect the correct totals including a VAT refund due.
So - all the above for context - I don’t even know if its related to the issue at hand.
The issue is: when I review the VAT return for next quarter (31 Jan) - the sales reported are about 10x what they should be (c£716k - wow but sadly not true!) - this exceeds the total sales I have ever entered in 3+ years.
I can just make manual adjustments to get by, but thought I’d better report it in case I have inadvertently messed things up and was only getting myself in deeper and needed rescuing!
Ahh. Looks like I have a Rolledback VAT return entry for the next period with some weird values. Not sure how I made this happen - it was a late night.
How do I delete a VAT Rolledback entry?
You’re not able to delete a rolledback return. You would instead create a new one for the same period.
If you’re using MTD, you would need to disable this in your VAT settings first, otherwise you won’t be able to use the same periods (which HMRC specify based on what you’ve submitted).
I’ll review and sort after 31 Jan when the VAT return is actually due for submission.
I use MTD but never transmitted this VAT return to HMRC - the rolledback return is an orphan for the period ending 31 Jan.
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