i am in the process of completing year end accounts for a new client and there is a vat liability B/F, i am unable to contact the old accountant as they are now retired and the only journals i have is the workings showing the last years vat rconciliation with a B/F balance. i have spoken to my client and they have said that this was an error as the old accountant assumed that income loaned to the company was in fact sales and it wasnt, hence me being left with this liabilty. Could anyone suggest how i can remove this liability please
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Provided you're happy to accept the client's word, reverse whatever the original error was.
Afraid you're going to have to guess what it was.