I'm new to sage and hoping someone can help. I have posted all my transactions and run my VAT return and the figures for VAT are correct but for some reason box 6 (total value of sales) is zero even though box 1 (vat due in the period on sales) is correct. Any ideas what I have done wrong?
The sales were put in as journals not individual sales as we work on a cash basis.
When you posted the journals, did you use a T1 code for the VAT figures and a T9 code for the net sales figures? If so, that would explain why the net sales weren't being picked up by the VAT return (as T9 transactions are ignored by Sage for VAT purposes).
It's not that common for sales to be posted onto Sage as journal entries. Have you considered other ways of doing this?
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Pearce & Co - Chartered Accountant and Chartered Tax Adviser
Thanks. That was the problem so have rectified it now. I can't use the invoice function as we have thousands of small transactions as we are a chain of beauty salons and we have POS software so I was using the totals from that to create journals. Would there be an alternative?
It's hard to say without looking at the business and the journals that you post but you could, for instance, look at (i) setting up one customer account on Sage and posting 'summary' sales invoices (using the POS totals) through that or (ii) setting up a POS dummy bank account and posting the POS totals as bank receipts to sales (with transfers from this dummy bank account to the current account as the funds cleared). The important thing is to have a simple system that works for you, so you may prefer to stick with the journal approach.
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Pearce & Co - Chartered Accountant and Chartered Tax Adviser
The problem with journals is that if you make a mistake you can't easily rectify it as Sage won't allow you to amend or delete journals. You have to reverse them by posting another journal the opposite of the original.
Robert has made a couple of good suggestions above.
