Member Since: 26th Jul 2012
8th Nov 2019
Hi. I would be very grateful if you could share those with me too. I have been send a survey to complete by my professional body and not sure if I have done the things right. Many thanks :)
2nd Oct 2019
I am also experiencing the same problem. I assume the client has used another person to complete through a software and has not removed me as an agent. I am not sure how to work around this but it appears that if there is not another appointed agent, our names would still shown as agents in the system.
Has anyone managed to sort the issue?
25th Jun 2014
Thanks for your reply and sorry to repeat myself but I don't really get it! Why Cr Vat Liability when this increases the liability and it actually has been recorded already with the sales and purchases. Here we should increase the money in to the bank and I was unsure about the cr side of this transaction. If I credit once again the VAT liability will this no affect the amount due to HMRC? Thank you very much for trying to help. Kind regards
25th Jun 2014
Hi again and thank you all for your help. I am sorry for sounding a bit silly but I really do need to understand all those double entries. I have the following confusing situation:
The company has sales VAT exceeding the VAT on purchases for the 12 months period which will leave the company with current liability on the Balance sheet. But for one of the quarters the company has VAT refunded directly to the bank account as the expenses exceeded the sales. I should reduce the liability with debit on the VAT control account ( which is current liability) but how do I account for the money received in the bank when the entry should be debit too?
I would really appreciate your help on that.