VAT on Sage Line 50

VAT on Sage Line 50

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Hello,

I am keeping the books for one on my VAT registered clients on Sage Line50.
Recently I have posted few journals. The VAT appears in Purchase Tax Control Acc (2201), but not on my VAT return. Few of them are on the VAT report(detailed) under the net purchases(box7).
I deleted one journal and re-posted with T1 as tax code, but still doesn't appear on the VAT Return.
What am I missing?

Many thanks,

Nelly Ciobanu

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By AnonymousUser
03rd Jul 2003 21:44

VAT in L:ine50 Journals
Genereally speaking most of your journals would show a T9 tax code (as they are probably inter nominal movements rather than "purchases") therefore I wouldn't expect them to be in the VAT return - the VAT return does not pick up T9 transactions. If you were preparing a journal that DID involve VAT are you sure that you have used the correct T code? and on both sides of the journal? Plus it might be worth double checking if you have already reconciled these particular transactions on a previous VAT return in which case they would only be picked up if you check box the "include reconciled" on the VAT return.

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By DavidT
03rd Jul 2003 12:32

A couple if ideas
Just tried a sample journal here and it works fine.

Are you happy the journals are posted with dates that are within the date range you are using to genreate the return? If you used todays date for the journals but were running the VAT for an earlier period they wouldn't show.

Only other thing that springs to mind is that you may possibly have some problems if you were cash accounting for VAT. I'm not sure but if part of a journal was T1 and part was T9 you may find Sage doesn't pick it up but this would only be a problem on cash accounting if at all.

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