Question asked by James Stenton 8 years ago
I have just created last quarters VAT return, but have since found out that I should have been using the cash accounting system, not invoice accounting.
I have worked out how to change this in the VAT set up, but how do I remove the previous VAT return so I can re-run it under the cash accounting system and then submit to HMRC?
Hi James,
Once you have selected the relevant VAT return, if you scroll all the way to the bottom, there is an option to delete, please see below:
Subsequently, when you rerun the VAT return, it should pick up the invoices and bills under cash accounting. However, there is another issue at hand, when changing the schemes, the system would not update those invoices to cash accounting. Usually, on invoice accounting, the system would debit/ credit VAT control, but on cash accounting, it would debit/ credit VAT cash control, but once paid, the system would post a journal to VAT control.
For this particular situation, those invoices/ bills have affected VAT control but are picked up on the invoice date rather than payment date. Unfortunately, there isn't much you can do. On the other hand, you are able to correct the unpaid invoices once the correct VAT scheme is set up, you will have to manually click Edit and Update the unpaid invoices.
Thanks,
Tommy
Best answerThank you Tommy,
I have done the above, deleted the incorrect return, changed schemes and updated all unpaid invoices, figures on the dashboard now seem to reflect the correct values. Can I just check, that when I re-run the VAT return now, the figures are correct, for the invoices that were created and paid within that period, but before I set up the new scheme?
Hi James,
No problem!
I've just taken a look and it seems that you have updated your VAT scheme and the unpaid invoices correctly. However, I would like to point out that there is only one invoice that hasn't been updated; INV000561. So, when you run your VAT return now, it should all be correct such that they will be picked up on the payment date.
Thanks,
Tommy
Brilliant, thank you for that and all your help
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