Thank you Lesley.
Yes checked that. They have not undertaken any such exercise. This error goes back more than 6 years for sure. I am waiting for him to bring the Accounts. Any suggestion would be appreciated.
Please see below an excerpt from what we brief our clients:
Amazon sales are credited direct into your Bank A/c after Amazon has deducted their commission which is net amount. For VAT purposes we require gross sales figure, as you pay VAT on the gross sales and not the net amount.
Report for Sales
1. Go to reports
2. Choose payments
3. Choose Generate report
4. Choose report type as summary
5. Choose custom date range or month
6. Choose download. This will be a pdf file
7. Repeat step 3 again but this time choose report type as transaction
8. Choose custom date range or month
9. Choose download. This will be a csv file
Hope this helps. This is a tedious exercise but needs to be undertaken.
Yes and any changes you while the check is taking place,you will have to write to the officer who will apply the changes to the tax return. Needless to say expect an explanation.
Do you submit the VAT in QB?
Once submitted in QB the balance is transferred to VAT A/c in the balance sheet as a creditor.
Lets put it another way:
An investor can only hold up to 30% of the company’s shares
did you manage to pass?
curiosity killed the cat!
Agree. Perhaps that is why asking fellow Accountants.
Visited the premises. His story over the phone was different and when visited it changed dramatically (basically his reasons to sell). This prompted this investigation at our end as the client approached us after becoming suspicious