VAT RETURN

Hi

The VAT return in the system is a report and so won't show any payments.

Did you do the return from Clear Books? If you did then the system will either have created a bill from HMRC for you to pay off when explaining the bank payment or, if you have toggled it on, will stick the liability in the "VAT payable" account, in other words, you never put a payment to the cash control (or VAT control) account.

To check the toggle go to Settings>Configure system>Toggle features>Accounting and see if there's a tick next to "VAT return journal".

If you didn't do the return from CB then you need to create it now and confirm it, without submitting it again, this will create the bill or a liability to the VAT payable account.

Hello,

Thank you for your answer.

I wish make our return with CB. Sound more easy.

So I just explained in the statement this transaction selecting "VAT Cash Control Account" and "Exclude from VAT". That all.

I did the return, well a simulation as I need to explain few more transactions, and wanted see the result.

So if I well understand a bill as been created for this transaction and the amount has been automatically deducted of the net VAT to be paid to Customs or reclaimed by you ?

Pascale

PS : I tick nothing there Settings>Configure system>Toggle features>Accounting and see if there's a tick next to "VAT return journal".

Good evening,

It's appeared like that in ; Reports - Populars reports - transactions

ID Date Entity Description Expenditure Income Code Account name

234 08 Mar 18 Bank of Ireland 365 Online hmrc vat 2,927.00 7502001 Bank of Ireland 234 08 Mar 18 Bank of Ireland 365 Online hmrc vat 2,927.00 8502002 VAT cash control

Hi again

The usual procedure with VAT returns in CB is as follows.

When you are happy that all the transactions are explained and correct you run the VAT return in Reports and submit it to HMRC. In most cases, this will automatically create a bill in CB waiting to be paid and so when you come to explain the bank payment you set it against the unpaid bill.

This is the default position but some people don't like bills being created and so tick the "VAT return journal" option which means that the sum to be paid to HMRC goes to the "VAT payable" account and so, when you explain the payment you put it there.

You never put any transactions to the VAT cash control this is a system account that lets you know at any time how much VAT is outstanding on unpaid invoices less unpaid bills.

I'm assuming you have already done your VAT return in a previous system or manually and so you can't now submit from CB so what you do is to create the VAT return and just "confirm" it, this will tell the system it's done and will create the bill or put the sum to be paid to VAT payable account.

Sorry but without access to your books I'm guessing a lot here so it's probably a good idea to call or email support so that they can help you further. You get to support vie the "?" on the top right hand side of the screen, or by emailing contact support

Hi again Paul,

First thank you for your patience.

I am not sure to really understand.

Our Vat number is recorded since the 1st of December 2017 with a "starting" date from 01/04/2017.

For the period starting 01/04/2017 to 31/03/2018 we have NOT make any Vat return at all. The HMRC has absolutely nothing about our incomes/outcomes. We just, after received a letter, paid an amount - £ 2,927.00 - on telephone banking by card, I suppose an estimate.

So we decided recently to put everything in order, and I am registered since few days on CB.

I imported all our statements, then explained each transactions. Quite easy. Then I went to Report-Popular report-Vat return to see what was on. I validated nothing. At this point I just read and checked all the boxes. Then went back to my statements as few explanations were missing.

You have already understand that my concern is only about that Vat payment made by card as I don't know if the way I imputed it is correct and therefore if it already deduced of the amount showed in Vat return (not validated).

At the moment this amount is imputed like that after choose/explained that transaction, Account code : VAT cash control and VAT : exclude from VAT

ID Date Entity Description Expenditure Income Code Account name

234 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 7502001 Bank of Ireland 234 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 8502002 VAT cash control

If I am not wrong that mean that a bill has been created.

And showed like that in Reports-Popular reports- Transactions. Ticked ; All account/heading VAT creditor :

535 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 (Debit) 8502002 VAT cash control

Do I need to change the explanation of this transaction in my statement, I mean change the account code for : VAT payable and select a rate for exemple 0%VAT.

Sorry to not speak like an accountant.

If I am sure of the imputation of this transaction, I can submit my Vat return online with CB. And to be honest I will glad enough.

Thank you for all your help!

Pascale

PS ; I don't know if it's permit, but I can sent you my details if you want have a look at my account in CB. If not sorry.

Hi Pascale,

Payments to HMRC should all be coded to VAT control so please edit any bills to reflect this.

Do you have an accountant at all?

Hi Aran,

I code my VAT payement like that ; Account code : VAT cash control and VAT : exclude from VAT so I am correct ?

Showed like that in your software in different menu :

ID Date Entity Description Expenditure Income Code Account name

234 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 7502001 Bank of Ireland 234 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 8502002 VAT cash control

If I am not wrong that mean that a bill has been created.

And showed like that in Reports-Popular reports- Transactions. Ticked ; All account/heading VAT creditor :

535 08 Mar 18 Bank of Ireland 365 Online hmrc vat paid 2,927.00 (Debit) 8502002 VAT cash control

So you can have look in my CB account if you want. No problem at all.

No we have not any accountant.

Paul, Aran, I am abroad in my family, sorry but I can't ring you easily, and can only contact you by email or here until next tuesday.

Many thanks again to you all

Thank again. it an annual one or the regular quarterly ones (June, September, December & March). My problem in only about the explanatio / imput of this transaction in my statement in CB. A simple payment made by card on phone. I know that all softwares are not the same. Maybe Aran will tell me if my input is correct or if I have to change

Hi Pascale,

To edit the account code on a bill, click on the bill number, then click on 'Edit', change the Account code to 'VAT control' and Save.

I will reiterate what Paul has said and strongly suggest that you look for an accountant to help you further.

Both I and Aran have told you that you shouldn't put the HMRC payment to "VAT Cash Control".

Aran suggested putting it to VAT control but, if you then create and "Confirm" or submit the VAT return in the books it will (unless you have the toggle ticked) create a bill and so you'd have to amend the transaction to pay off the bill.

Sorry but that's all I can offer I'm afraid.

Aran - my comment crossed with yours.

I'm probably missing something here but if the HMRC payment is put to the VAT control and you then allocate the bill to the VAT control, you'll have two debits to the VAT control and an unpaid bill?

Paul,

A payment to HMRC should be allocated to the Bill to HMRC that is coded to VAT control. Nothing more than that needs to be done where paying off the HMRC bill is concerned.

OK thanks - but the bill will automatically be allocated to VAT control and so I'm not sure why he'd need to edit it? Not to worry, if he just creates the VAT return as normal and allocates payments from the bank, to the bills, all will be OK.....wellmaybe not "all".

Hi Aran and everyone,

I am back. Thank you for all.

When I click on Money/Bank Statements/History and then I go to March then I click on the magnifier button I can see that transaction in Purchases-Bills-Paid.

Think it's ok

PAY000412

Invoice date 08 Mar 18

Summary 365 Online hmrc vat

Inv # / Ref

Invoice status paid

Vat treatment Out of Scope - Not on VAT Return

Sorry I can't drag or upload any image.

Pascale