Loading Profile...
VAT underpayment
We have a VAT underpayment to add for this quarter, which is a result of a missed VAT amount from last accounting year, which is a 'pre-FAC' period.
What's the best way to reflect this on the Vat return page?
The only way I can think of would be to change the starting balance, but we're no longer in our first VAT period since starting...
What's the best way to reflect this on the Vat return page?
The only way I can think of would be to change the starting balance, but we're no longer in our first VAT period since starting...
I’m headscratchy
1
person has this question
I have this question, too!
Tell me when someone answers.
The more people who ask this question, the more it gets noticed.
The more people who ask this question, the more it gets noticed.
-
Inappropriate?I know how to correct it with a journal entry but I'll wait for Ed's solution first!
P.S. Ed's will not include any accounting jargon.
I’m amused
-
Inappropriate?Stuart's right (as usual) - you'll need to create a journal entry (or rather, two) to address this.
I'm sure you can find a friendly accountant to help....
You'll see this reflected in the balance sheet etc, but just at the moment we don't include these on the VAT statement page. We plan to support those kinds of corrections on that page in our next release in a fortnight. -
Inappropriate?Toby e-mail me if you need a hand at stuart@3ca.co.uk
EMPLOYEE
