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 .
- Personal Tax 267 8
- Website costs (intangible assets) tax relief 240 2
- 64-8's amazingly quick 29 1
- VAT - Check on clients business 1,199 46
- Practical experience 870 16
- Xerocon 2016 837 13
- Is Xero payroll as rubbish as I suspect it is? 1,885 41
- Rent a Relief for small husband and wife run guesthouse 249 2
- Mortgage Reference 205 2
- Entrepreneurs relief after enhancement 181 3
- Buy Samsung Galaxy Note 5 440 9
- VAT 310 1
- Gift aid procedure please? 242 4
- What counts as income for the £100k 'salary' cap for free childcare from 2017? 218 1
- last minute request 327 3
- US tax form 1099 (misc?) 83 1
- Cash gift from India 511 13
- GP ACCOUNTS 90 1
- Write an article on latest tax changes for landlords. 491 16
- Stamp Duty based on Exchange or Completion Date 147 2