Hi, I hope some-one can help. The company I work for are using the Vat cash accounting scheme, whereby we only account for vat on the invoices which are paid. Recently I had a look at a detailed report of our return to date & I found that it had included invoiced which we have not received payment for.
I have checked the setting for vat in sage & it clearly states that we use the cash accounting scheme, why then is sage counting these unpaid invoices in our return.
Any ideas will be greatly appreciated.
Alison
Replies (11)
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Cash Accounting
Invoices should not be appearing on the the Return at all on Cash Accounting - the report that you ran, was this the Detailed Report that you can run by clicking Print on the VAT Return screen after calculating the VAT Return or is it a different report?
John
Sage VAT Report
If you are using cash accounting for VAT, the Sage VAT Details report will list payments, not invoices. If your report is listing invoices, I think perhaps the Cash Accounting check box has been ticked after invoices have already been recorded and that these invoices have not been reconciled on a previous VAT return.
VAT Report
Not something I've ever seen - even if you had changed the VAT Scheme at some point, the report knows which scheme you are on now and should report the transactions accordingly...
If you run Check Data, do you get any errors?
John
Invoices on reports
There is nothing I can think of, assuming the settings are correct, that should cause invoices to appear on the VAT Return if you are on Cash Accounting.
I'd be happy to take a look at it for you, free of charge, but I would need a backup copy of the Sage data - if you did want to do this, me email is [email protected]
John
Cash Accounting - VAT return
Hi Alison
Did you get anywhere in solving this problem? I've had the same thing happen on my VAT return.
Cash Accounting
I've tried multiple scenarios to try and recreate this problem with no success, nor is it something I've seen before with any data.
As per my offer to the OP, I'd be happy to take a look at your data, free of charge to see if I can find the problem...
John