VAT Summary and Tax summary very different

Accounting
1

Hi,

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?

2

Hi @dipens

Are you on cash or accrual accounting for VAT?

3

It should be cash - how can I check?

4

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.

5

Ok figured out the problem. The start date was set to 8th May.
Have set to 1st May and everything lines up.

Thanks!

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