RB
Blogger
Share this content
0
2
9672

Sage VAT Cash Accounting to Invoice Accounting

Sage VAT Cash Accounting to Invoice Accounting

Has anyone changed from cash accounting for VAT to invoice accounting on sage.

I found some instructions which stated that all transactions must be reconciled.

So after doing the 30/6/10 return I reconciled all transactions, but when I came to do 30/9/10 return it still would not let me uncheck the cash accounting box, saying that all transactions must be reconciled. I then reconciled all transactions for 30/9/10 and it still wouldn't let me uncheck the box. I was doing 30/9/10 return in October.

Is it something to do with dates, should I ensure every transaction on the system right up to the current date is reconciled?

Thanks for any help.

Replies

Please login or register to join the discussion.

avatar
23rd Nov 2010 11:35

Change VAT Schemes

ALL current transactions in Sage that are applicable have to be reconciled before you can change the scheme.  From memory, the help file has a good guide to changing the scheme.

John

Thanks (0)
avatar
23rd Nov 2010 16:24

Change for VAT Cash Accounting

Is it possible that you have transactions dated after the end of the quarter you have reconciled? I think these will have to be reconciled too.

Run your return to the quarter just ended and "reconcile" it.

Then run a search in financials for any VAT related transactions dated after the quarter end. These will be the ones which are stopping Sage from allowing you to untick the box. depending on how may there are you can do one of the following

1) delete or reverse them, to be reposted later, then untick the box.

2) Run a "dummy" VAT return to encompass all the remaining VAT related transactions, then reconcile and untick the box.

There is a report avilable as a download called "VAT Cash to Standard" for the purchase ledger and sales ledger. It might already be in the Msc reports section of the reports list.  This report details the Net and VAT element of unpaid items which the Sage VAT return will have excluded when calculating the cash accounting VAT return. Use these reports to adjust your figures to Standard accounting.

In my experience, unless you come to a deadstop at the end of a quarter, you are unlikely to be able to generate a complete and accurate VAT 100 from Sage whilst switching schemes; there will always be some adjusting and reconciling to do.

 

 

Thanks (0)