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VAT on Purchases

Problem reported by John 4 months ago

Evening when entering bills onto clearbooks the VAT figure is different to what my invoice says this means that I have to either change the bill figure ex vat to get the correct figure.

For example I have goods Value of £19.56 / VAT @ 20 = £3.91 Total of £23.47. However clearbooks give a different figure and a total of £23.48 even after checking all my unit prices on the bill.

So when i come to match payment s through my bank feed I can not match it to the relevant payment

1 Reply

Hi John,

This is likely due to a VAT calculation discrepancy. If VAT comes to a half penny it can either be rounded up or down. This means that in your case your invoice has rounded down and we have rounded up. You can manually edit the invoice in Clear Books to set the VAT one penny less so that it matches your invoice. This is fine to do. I hope this helps.

All the best,

Mohamed.

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