Just doing my VAT return on sage and it is not registering VAT on my purchases. All figures on the correct tax code and showing correct every way I look at them except on the VAT retum. What have I done, is it possibly something I adjusted when altering VAT from 15% to 17.5% - except my sales figures are fine. Help
Basics first...have you entered the correct dates in for the vat return/have you posted the purchase invoices/payments with the correct dates? When you print the vat return, have you looked at the detailed report? Whats on there?
Thanks for replying. I have used correct dates (have been using same system for 3 years) My control accounts for T1 etc all OK. Every way I look into the purchase invoices the VAT is clearly there at 17.5% on T1. When I look at my reports listing puchases for the quarter it gives me the correct total in the VAT column. But on the return no VAT on purchases. I could adjust the VAT manually as I have the figures of what it should be from my invoice and credit list but it doesn't seem right & surely shouldn't be necessary.
Thanks for all who replyed. In the end I phoned my accountant's office and some saintly lady got me to send her my data over the internet and spent over an hour on the sage helpline for me. When I had altered the VAT back to 17.5% in January, I had ticked the 2 boxes, 'Include in tax return' was of course Ok, but I had also ticked 'reverse charges'. So with one un-click all was well. After 2 days of stress she saved my sanity!
Yes, interesting thread. The joys of computer packages. Tick boxes are dangerous, there seem to be quite a few problems posted here which are a result of a boxes being ticked or not ticked by mistake. There should be a prompt when you do them asking "are you sure you want to tick this?" What does this 'reverse charges' mean anyway?
