VAT Payments
Question asked by Tom Lawicki 8 years ago
Hello, I should like to know how to do the following:
1) Pay a VAT return on CB 2) Explain a VAT reclaim on CB
Any help would be appreciated.
Almost.
Money in from HMRC> Regund tab > Post it to VAT control (and if that's not an option you might have to go into Settings > Account Codes to find it and tick the 'show in purchases box' then press save down the bottom)
I wonder where you've been posting all of your other VAT payments though up until now? I'm also wondering why your accountant is taking info from CB and filing the VAT elsewhere instead of using the system to its full capacity. Have you given them access?
Best answerHi Tom
Was the VAT return filed from within Clear Books? And if so, if you had into Settings . Toggles . Accounting do you have the VAT return journal box ticked under the journals heading?
It wasn't, what will that do in relation to reconciling bank statements etc?
Are you on cash accounting or invoice?
Ps why aren't you submitting through CB just out of interest?
no my accountant does it direct through HMRC web services
I basically need to explain money IN from HMRC, normally i pay OUT to HMRC.
Look at your balance sheet. How many VAT control accounts do you have?
VAT Control VAT cash control
Is it 'Money IN' from 'HMRC' account 'VAT Payable'
Almost.
Money in from HMRC> Regund tab > Post it to VAT control (and if that's not an option you might have to go into Settings > Account Codes to find it and tick the 'show in purchases box' then press save down the bottom)
I wonder where you've been posting all of your other VAT payments though up until now? I'm also wondering why your accountant is taking info from CB and filing the VAT elsewhere instead of using the system to its full capacity. Have you given them access?
Best answerVAT out was no problem and my accountant always has done my VAT manually. I used to work off excel so the procedure never changed.
So just to confirm then, you post VAT out to the VAT control too?
You must 