I went to perform a VAT return on Sage and when I went to enter the figures on the HMRC website the error message appeared when VAT figures dont match with your output/input figures.
At the time I went through the VAT report but could not find any discrepancy
I have since found the error on SAGE (. AN EXTRA 0 on an expense) As I reconcilled the figures on SAGE, can I go and correct the data and will this be simply taken into account on the next VAT return in SAGE? Or do I need to make an adjustment on the next VAT return?
I presume you have filed your VAT return? If so enter an adjustment on Sage to correct the expense and Sage will pick up the adjustment on your next Return, but make sure you enter it as an additional entry and don't use maintenance to adjust the existing entry so there is a clear audit trail.
Yes, you can use the "maintenance" option to adjust the existing entry and Sage will still pick it up on your next VAT return. The correcting transactions will show on the VAT reports as "cancelled transactions", along with a reference to the original transaction, so your audit trail won't be lost. (Also, If you try to delete a VAT reconciled transaction, it will give you the option of "Reverse" rather than "delete" and Sage will pick up the reversal/"deletion" on the next VAT return)
Just don't put an adjustment through and also use the maintenance option, too - do one or the other
Have you actually filed the erroneous VAT return with HMRC? If you haven't, you could file the correct VAT return with HMRC and you could do the correction on Sage (using which ever method), re-run the VAT report for the same period and re-reconcile your VAT return on Sage. That way, the following quarter's Sage VAT return will be correct (as if you had not made the error)
If you have filed the erroneous VAT return, you obviously still correct the error (either through "maintenance" or otherwise) and, as Rob has said above, Sage will just pick it up on your next VAT return.
