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Post Info TOPIC: VAT reconciliation in SAGE
numbnumber


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VAT reconciliation in SAGE
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Just realised I have submitted VAT ending quarter 30.6.11 but not reconciled and looking at the VAT position now it is including all transactions from that quarter plus to date.  If I reconcile the VAT to 30.6.11 the figures will be slightly out as there were some purchases invoices dated June posted afterwards.

Could I reconcile to 30.6.11 and then when I run the VAT for 30.09.11 put the difference as an adjustment?  I could just alter the dates on the late transactions and put them as July but management accounts have already been submitted to finanace director so don't really want to go down that route.

 

 

 



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Roz
gbm


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An alternative would be not to reconcile, then run a 6 month VAT return to 30.9.11 in October, and deduct the figures declared on the 30.6.11 return.

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Nick

Website: www.gbmaccounts.co.uk
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numbnumber


Senior Member

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Posts: 143
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That sounds like a good option. Why do I have to make things more complicated than they are?

Thank you.

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Roz
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