Vat Sage Correction
I need to get around this entry in Sage .
Company is on Vat Cash Accounting Scheme , I had Bank Payment recorded as Payment on Account to Supplier (using tax code T1).
Supplier Later refunded that whole amount(due to incorrect name on chq) and then we Recorded as Bank Receipts to Suspense a/c using (T9).
Please Could any body tell me How to credit the supplier again and correct input vat claimed earlier on Payment on account.
1- Supplier A/c(Dr)
Bank (cr) as Payment on A/c using T1 tax code.
2- Bank Dr (T9) code
Suspense a/c (T9).
Now i need to Credit the supplier again and correct input vat claimed as per entry 1. We are operating Vat Cash Accounting scheme ...
Your help would be appreciated .
- Closing my business down 70 4
- What do you all do in your spare time? 839 34
- New ACCOUNTINGQUESTIONS website launching 267 6
- JUDGE FRAUD ALERT 261 4
- VAT on long lease in comercial property that has opted to Tax 191 6
- Director - earning less than £8500 and no taxable benefits - PllD? 93 1
- So who has completed a 2015 tax return then? 586 12
- Scams are not always obvious 2,240 36
- Auto Enrolment - Director Only Answer 1,466 21
- CIS Subcontractor Catch Twenty Two Position after 14 years 186 2
- VAT flat rate scheme 98 1
- Can I record depreciation, prepayments and accrued expenses in cash accounting? 285 4
- Need some help on importing procedures and VAT 85 1
- I have let a client go as it wasnt worth the hassle, 2,092 19
- TaxCalc - A Return to Form 410 6
- Should a non trustee sign Scottish charity accounts? 149 1
- How do we get US withholding tax back? 219 3
- FPS or EPS 167 2
- Continuity of Practice 218 2
- IRIS Professional Yearend 142 2
- Moving away from CCH software 953
- QROP pension input amounts 440
- write off loan or loan to equity swap or both 382
- HMRC BENCHMARK EXPENSES 357
- Unused Losses and Post Cessation Receipts 325
- fraud 284
- EIS relief on transferring shares to spouse 259
- Sole trade business in UK, but the owner works from EU 228
- Construction CIS LLP Company 212
- EPS and CIS deductions 200