Vat total not correct

Hi there. I’m a newbie and just setting up and trialing before I start using properly. I have done two trial invoices totalling £350 (including VAT) but when I check my Tax Summery the amount is £58.34.
I’m on the flat rate so it should be £42. Even if I was on the normal VAT rate I haven’t made any purchases so the total would read £70.
Does anyone know what I’m doing wrong?
Thanks in advance.

Hi @AntParker

The Tax Summary is based on standard accrual VAT method
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You can run a create a VAT return, just don’t save it or submit it. This would be better at estimating your VAT situation.

Thank you.
Still not quite sure where the £58.34 amount came from - not that it matters. I did your suggestion and created a VAT return and it showed the correct amount.
Thanks again.

350 / 6 is 58.3333 rounded up to 58.34.

Thats where its come from. Its 20% of the gross. But as said, it won’t show the flat rate amount unless you run the vat return.

Thanks Paul.
That makes sense!

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