Problem regarding flat rate

Problem reported by Sabica N Ahmed 7 years ago

Hi, As the flat rate % changed to 16.5% from 01 April 2017 so in setting and taxes i changed the % but when preparing the VAT return its charging VAT on sales on previous VAT return. Can you please sort out this issue ASAP so that i can prepare VAT return.

1 Reply

Hi Sabica,

Even though you may have updated the VAT treatment for the next tax year. Any invoices that were generated for the new VAT period, prior to the VAT change will remain with the same tax treatment from the previous VAT period. You will be required to access these invoices and manually up date them, so the new VAT treatment takes effect.

To update the invoices you will need to go to Sales > Invoices, select the invoices affected, Edit them and click update.

Thanks, Theo

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