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keano43


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VAT woops
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Hi

Wondered if anyone could help.

I submitted my VAT return for period 01/04 to 30/04, which was fine.

Trouble is i did not reconcile for this period in sage, so basically my figures for period 01/05 to 31/05 include for this period.

What would i do in this situation?  I was thinking if i run from period 01/04 to 31/05 this will include both returns and i just make a note of the difference.

Any suggestions would be greatly appreciated



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NickCraggs


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Did you print out the VAT returns? if so you may be able to see what was on the return, rerun the period and anything that was not on the original return you can manually add into next return?

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Nick 

Nick Craggs FMAAT ACA  AAT Distance Learning Manager

@nickcraggs 

BKN Tutor of the Year 2013 & 2015


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keano43


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Hi nick, yes i printed out the VAT return, thanks for your advice.

I have made any notes what i have done so fingers crossed this should be ok

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keano43


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Hi nick

Just so i am clear would you run the dates 01/04 to 31/05 on sage and then reconcile both returns as one, if that makes sense?



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MarkS


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Hi There

 

Doesnt make any difference if you run from 01/04 or 01/05 as if you have any unreconciled items for the previous period it will pick them up if you want to include them.

Easiest way would be to run for the period 01/04 to 31/05 (assuming you are doing monthly returns), reconcile and then when doing the VAT return to May online deduct what you have declared for April from your SAGE report.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
keano43


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thanks for your help on this has put my mind at rest :)

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