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Sage VAT cash to Standard transfer

Hi,

We are running Sage Instant accounts plus 2012.

Our turnover is now over £1.6m and so we need to move from cash to standard accounting for VAT.

When we go to Company Preferences and try to change VAT scheme to Standard we get a message saying this cannot be done because of unreconciled transactions. All unreconciled transactions have VAT code T20 and are Sales Receipts. 

The questions are:

1) why would these transactions not have been reconciled when they have been included on earlier VAT returns?

2) how can we reconcile them, to allow us to move to Standard accounting? We have tried running a VAT return again and clicked to reconcile but no good.

Thanks in advance, Oly.

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VAT

Run the VAT Return with a date of 01/01/1980 to 31/12/2012 - this should ensure that all current, unreconciled transactions are picked up.  Reconcile and you'll then be able to change the scheme.

John

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VAT and T20

thanks John,

we have already tried that, the sales receipt transactions with VAT code T20 are picked up in the VAT return but do not get reconciled when all the others do. 

I guess it's a problem with T20 VAT transactions in Sage - anyone got first hand experience of these?

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T20 shouldn't be being treat differently, if the transactions are on the return then they should be reconciled...

If you run Check Data, do you have any errors?

John

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Check data

hi John,

have run Check Data, no errors reported.

 

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Why not update to better software?

I used to be a a Sage "dealer", then "Accountants Club" member. Sage software IMHO is well outdated and it may be worth your while looking at a more contemporary solution, such as Xero. Our clients have been using this for the past two years and are very happy with it. 

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T20 Check

Go to Settings - Configuration - Tax Codes. Scroll down to T20, highlight, edit and see if it says it's included in the VAT return and whether any other aspects of the set up of this code look odd.

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T20 tax code

Moonbeam,

have checked T20 tax code, yes it's ticked to be included in the VAT return. No aspects look odd.

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T20

If you want, send me a backup of the data and I'd be happy to take a look, free of charge, to see if I can find the problem as we've covered everything in this thread so far...

John

www.leyburnsolutions.com

 

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