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Post Info TOPIC: VAT on old customer invoice
Ozia


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VAT on old customer invoice
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Hi all,

Im new to this forum and would really appreciate your comments!

 

I work for a Ltd company and now being busy with chasing the old invoices that were sent out before I joined.

There is one customer that actually promised me a payment, but I  don't know how to deal with Vat charged on it.

I went through all our Vat returns for that year and this invoice had not been mentioned anywhere, although 20% is shown on the invoice.

 

Im looking forward to receiving comments from more experienced book-keepers ;)

 

 



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Ozia. 
Robert Pearce


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Is your employer cash accounting for VAT purposes?  If the sales invoice is unpaid, that would explain why it has not appeared on a previous VAT return.



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Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

www.pearceandcoaccountants.co.uk

These comments are outline only and are not a substitute for specific professional advice.
Ozia


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Posts: 9
Date:
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Hi, 

no, we are using a standard VAT accounting, therefore even unpaid invoiced should have been included in the return for the period.

What would you suggest in this situation? Should I just add this VAT received to our next return even if it relates to the period 2 years ago?

 

 

 

 



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Ozia. 
Robert Pearce


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Date:
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What bookkeeping software do you use in your company?  If it's used to produce the VAT returns, does it flag up which transactions have been included in VAT returns?



__________________

Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

www.pearceandcoaccountants.co.uk

These comments are outline only and are not a substitute for specific professional advice.
Ozia


Member

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Posts: 9
Date:
Permalink Closed

We are now using Sage, but previously it was QBs when this invoice was created (no flagging of transactions). In sage we have entered it among other 'historic debtors' as an opening balance.

I know it really should have been on the VAT return for the period, but annoyingly it wasn't..



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Ozia. 
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