Take a free trial of Clear Books Or take a look at our new product Clear Books Micro

Vat correction - purchase credit note

Question asked by Laura Harrington 3 years ago

Wondering if someone can help, I have incorrectly been claiming 100% vat over a number of invoices but it should have only been 50%. What is the best way of correcting this for my next VAT return? I was advised to raise a purchase credit note but it is now sat as unallocated?

Many thanks!

1 Reply

Hi Laura,

Instead of creating a credit note, I would recommend generating a journal. This would make the correction easier to administrate and adjust account codes within a journal in comparison to creating a credit note that would then need to be allocated.

Thanks, Theo

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are