I need to submit my VAT return and have noticed that the tax summary (which is inline with some parallel book keeping I am doing this quarter) is very different to the prefilled data in the VAT return.
All my invoices are raised within the current May to July VAT period.
How can I resolve the issue so that I submit the correct VAT return?
Are you on cash or accrual accounting for VAT?
It should be cash - how can I check?
It would be set in your VAT settings. If you go to Reports >> VAT Returns >> VAT Settings, you can see it there. It’s also on the top of your VAT return.
The reason I ask however, is because the tax summary is accrual based. So if you’re on cash accounting, there is likely to be a difference. The calculations on a VAT return would, however, be correct based on your settings and account data.
Ok figured out the problem. The start date was set to 8th May.
Have set to 1st May and everything lines up.