Wrong VAT Box 7 figure

The box 7 figure on my VAT return is wrong by £1716.47 despite all the other figures being correct? My net total value of purchases is £5288.53 but Quickfile is showing a figure of £7005. The amount of VAT I am reclaiming is £991.19 which is made up of a mixture of 20% & 5% rates as always but I’ve never had this issue before.
Also I’ve just noticed that there is a receipt from 2020 that is showing as unpaid despite having a payment attached to it on the history - could this be related?
I need to submit these figures by tomorrow at latest so any help would be much appreciated.
Many thanks

Hi @Bunky42

If you download the backing information for the return then you will be able to see what invoices have been used for the figures.

You may find from looking at that there are specific invoices not showing how you expected - you can then look at those specific invoices and check that the VAT settings on those invoice are correct and that the payment dates etc are all showing correctly

If it is still showing as unpaid but you can see a payment in the history then it is likely that the payment has been untagged or deleted.

The best way to check this is to reconcile your bank to check you’ve not got any missing payments

1 Like

Thanks so much - I have done this and can see a purchase on there that I haven’t entered as it has no QF code - I have requested that this is deleted.

This topic was automatically closed after 7 days. New replies are no longer allowed.