How do I reconcile on VAT return on Sage, have not used it before, have entered all purchase invoices and Sales invoices, can get VAT return figure but how do I reconcile nominal.
To reconcile the VAT on Sage go to the financials screen and click the VAT button. Select your VAT return dates and press the calculate button. This will generate your VAT return. When you are happy with the return press reconcile. This will close down your figures for the current quarter.
To transfer the VAT amount due or receivable to the VAT Liability nominal account, go to modules, then wizards and select VAT wizard. This will transfer the VAT amounts for you.
