Hi, Many thanks for the above advice, I'm actually undertaking the VAT return in sage now and just steadily plodding through it, please could someone let me know what nominal ledger i would put a companies House payment to please within sage.

I'm not sure what the payment is for but it's £15 if that helps.

This site has been of great help over the last week helping me to get through this VAT return.

Many Thanks

Good morning All,

Some further questions regarding my VAT Return, if thats ok:

The Period Im trying to get the Return completed for is June, July & Aug_10, I have about 20 invoices from Dec09 May10 that were paid in June&July, can I still include these invoices for this VAT return?

Some of the Invoices I have are Pro-Forma Invoices should these be entered or not?


When entering the supplier invoices within Sage, Im trying to set up each supplier with a Nominal Ledger, for example I have set BT up as a supplier and used Nominal (7502_Telephone) most of the suppliers happen to be materials, so I have been setting them up using (5000_Materials purchased) I still have a number of suppliers that I dont understand what they supply or the service they provide, its not evident from there name of the business or the description on their invoices. Would I be ok to set these up using (5002 Miscellaneous Purchases)?

One last question for today, Its seems that one of the employees of this company buys a lot of materials on his own Credit card (Invoices still made out in company name) he seems to perhaps get a weeks worth of invs together, than he is reimbursed by way of a single company chq (this chq can sometimes pay off 10 invoices at a time), my question is how do I show this in sage, if I enter all 10 invoices into each supplier then how can I pay this off, when I go Bank Supplier, I can only pay off one supplier at a time. Would I be better not entering them as suppliers and just do a Bank Payments?

Hope you all have a good weekend.

When paying employees expenses, particularly if they have managed to get the receipts in the name of the company, I set them up with a supplier account and post the stuff to the relevant nominal accounts, clearing the supplier (employee) with either a cheque or direct payment to their account.  Without VAT invoices, or VAT invoices not in the company name nor to a company cr card account I zero rate them.

Many Thanks for the above, I've just done a little further delving and asked some more questions, this person is on a standard Vat scheme not the 'Cash Accounting Scheme' The invoices I have that are dated before June were apparently just left out by accident and not included in the previous return. I didnt make myself very clear above, these are purchase (Supplier) invoices (not sure if this makes any difference) as they were forgotten about would I be able to include these or is it just the case that I can only include supplier invoices for this current period (June, July & Aug)?

 

I've also read a lot of info on the site this morning in regards to Fuel (diesel) receipts. I have a lot of these, amounting to a lot of money. From speaking to the person this morning, he keeps no mileage log but he tells me that all the fuel bills have been used for business purposes, On his say so, am I ok to put these into sage and claim the VAT from them?

 

I have a full afternoon on my attempted VAT return today, so apologies in advance if there are more basic questions posted this afternoon.

 

 

Hi All,

Nearing the completion (or so I thought) of the VAT return, I found out yesterday that this VAT return DOES need to be done as per the VAT Cash Accounting scheme, feeling sick this morning about how to approach this......

After reading about this scheme on HMRC, am I right in thinking I only have to worry about what has actually cleared the bank and been paid for by cash within the period? For example if I have an invoice that I can see was paid by a chq and this chq cleared the bank on the 20/05/10, I havent got to worry about it, as this is outside my VAT quarter, is that right?

Also if a chq has been written out on the 17/08/10 (within the qtr) but doesnt clear the bank until the 04/09/10, I again dont have to do anything with it?

My VAT period is June - Aug.

Also with the expenses side, if goods were brought for example by an employee on the 17th but the company issued a chq back to an employee and this cleared on the 26th, what date would i enter this invoice as, originally the good were purchased on the 17th but cleared the company bank on the 26th?

Any addittional info regarding the VAT Cash accounting scheme, or things to look out for would be appreciated.

Many Thanks

Hi,

With cheques you must enter them as the date you send/receive the cheque or the date on the cheques whichever is later (not when it clears). With debit/credit card payments it is the date of sales, not when it clears.
You must clearly cross-reference payments with invoives.
Hope this helps.