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Sage Bank transfers appearing on VAT return

I’m using sage 50 cloud version 25 being the latest version.

when I posted bank transfers I.e moving funds from one bank account to another, the entire are defulting to T1 and the amounts are appearing in boxes 6 and 7. 

How do you change the default to these entries are T9? 

Thanks 

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05th Mar 2019 18:23

I think it could be possible that the default non vatable tax code has changed to T1. To change this back going forward you will need to get your client to do the following:

Go to Settings > Company Preferences > VAT > Non Vatable Tax Code - Check to see what code is in here, its likely that this has changed, change this back to T9 and press OK.

Kevin Brown
Regional Development Manager (North England)
Sage UK (Accountants)

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to kevbrownuk
05th Mar 2019 18:28

Hi Kevin, nothing has been changed in the defults. Transfers between bank accounts are posted as a journal. You can edit the journal and change the tax code to T9 but I can see anywhere where this can be changed at source. Any ideas?

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to BSaccountants
05th Mar 2019 19:44

Hi, on the odd occasion on the technical team i used to come across the default codes getting out of sync so often reselecting them can resolve the issue even though the defaults may look correct to begin with. As a test can you do the following please:
Backup the data.
Go into Settings>Company preferences>VAT>Non vatable tax code - Change this so it is T0 . Press Ok
Go back into Settings > Company preferences> VAT > Non vatable tax code - Change it back to T9
Post a bank transfer in the normal way that you would. amount is not important. make sure you do the transfer to a bank which is not the Cash register. so e.g. 1200 to 1210 should be fine.
Check to see what tax code has been used on the transaction now that you have refreshed the defaults

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