VAT RECONCILLATION

VAT RECONCILLATION

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Hi,

Does anyone know of any software which can be used with SAGE to quickly identify any discrepancies between the vat rec report and the trial balance. At the moment, I am facing the prospect of doing a 900 page report and I want to find out if there is a way of automating it. Thanks

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By RobBurnell
27th Jul 2011 18:18

Likely causes of discrepancy

Firstly I am not aware of software that automates this process but this doesn't mean that there isn't any.

There are a couple of likely discrepancies that I would rule out first.

In the past one of my clients set up a custom tax code T15 within the configaration screen under settings. However the client did not tick the box to include the amounts in the VAT return. Therefore VAT amounts were being posted to N/Cs 2200/2201 but not being picked up buy the VAT return.

Drop the nominal activity from 2200/2201/2202 in to excel by saving it as a csv file. Sort by tax code and ensure you are happy that and review the T9 postings. Anything unusual here? Has the client missposted a PAYE payment to the VAT control?

That is where I would start looking for the problem. Can you Identify when the error first occured?

I hope this helps.

-- Rob Burnell

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By petersaxton
28th Jul 2011 06:14

Excel

Why not export to Excel and then sort to make it easy to compare?

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