Hi, As you can probably tell by my subject title I'm VERY new to Sage and am totally unqualified. I'm just helping out with the family business by doing the books so please be gentle with me.
I've just completed our most recent VAT return and it said there were 9 unreconciled transactions (had some late invoices). So what I have done is run the previous VAT return again and reconciled it. Then I've done the current one minus unreconciled transactions. So I have TWO VAT returns in front of me.
My question is : Is it just a case of adding the two totals together manually to figure out how much I owe the tax man or do I have to do lots of wizardry on Sage to make it all neat and correct?
When you run the vat return, a box comes up with how many transactions are included plus states there are 9 outside the quarter, ie from previous quarter..... you are prompted to either include these 9, yes or no. Select yes then print off a summary and full report. Check these reports and if all in order you are good to go.
The total should be that of your two returns added together.
Don't forget to complete the VAT wizard to ensure the relevant amounts are transferred between the control accounts (date it on the last day of the relevant return). Plus your backups!
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
