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Balancing the first VAT quarter
I'm starting to use FreeAgent from the 1st October and am not entering in the previous two months data. The VAT quarter ends on the 30th October 2007.
I was going to simply ignore this VAT return in FreeAgent, since it is in the past and has already been filed by our accountant. However, the "balance due to HMRC" is out by the value of this VAT quarter.
Is there a way to make a balancing "payment" to the VAT ledger, or remove the VAT quarter, or start VAT reporting after the 30th of October? I don't want to change the start dates, since our company year starts on 1st October.
Many thanks in advance,
Mike Wilson
I was going to simply ignore this VAT return in FreeAgent, since it is in the past and has already been filed by our accountant. However, the "balance due to HMRC" is out by the value of this VAT quarter.
Is there a way to make a balancing "payment" to the VAT ledger, or remove the VAT quarter, or start VAT reporting after the 30th of October? I don't want to change the start dates, since our company year starts on 1st October.
Many thanks in advance,
Mike Wilson
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Inappropriate?Mike,
In advance of more comprehensive opening balance support (a couple of weeks away), we already support opening balances for Debtors, Creditors and VAT. Check it out on the Company Details page (Home > Company Details > Edit).
We will of course use these numbers when we move to the new system - you won't need to do anything.
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