Question asked by Denise Barnatt 1 month ago
Hi
I've entered the rental income for Q2 and also entered expenses for Q2. However unfortunately I used todays date (29th October) so they have gone into Q3 instead of Q2. The system does not allow me to change the date after the entries have been saved. Please advise.
Thanks Kind regards Denise
Hi Denise,
In this case, you must click into the REC/ PAY number, then click Void. Once completed, you must then re-input the transaction with the correct date.
Tommy
Best answerThanks Tommy - that worked a treat.
Denise
Hi Denise,
No problem at all - you're very welcome!
Tommy
Hi Tommy, what would be great here is for Clearbooks to allow changes before any MTD submission, instead of having to go through the process of voiding and re-creating. After MTD submission, just block the changes.
Hi Arvind,
Unfortunately, this is the way HMRC expects the quarterly updates to be submitted. Each update is a YTD total of everything. It is designed like that to avoid the need for locking down transactions to each period, or the need to amend them if anything was incorrect or incomplete. However, if you'd like to lock transactions within a period, you can use our locking periods feature under Settings > Locking Periods. This is available in the Sole Trader plan and Sole Trader + VAT plan.
Our Product team are reviewing the need to void and recreate transactions, and will be looking to implement an easier way to make edits for transactions.
Tommy
Hi Tommy, Sorry I didn't understand the bit about a YTD total. As I understand it, HMRC expects submissions every quarter for property income and self employed income, then a final year submission for self assessment. The year starts on 6th April, so I have set up quarterly periods in Clearbooks, as I am assuming there will be quarterly submissions. I'm new to your software, so please excuse me if I have misunderstood. I'm not a sole trader with respect to self employment, I just have property rental income/expenses to submit. Thank you
Hi Arvind,
In this case, you will require a Landlord account type. Regarding the accounting period, you should create an annual accounting period and you can delete the quarterly periods.
And yes, HMRC expect quarterly submissions. Each quarter will include the YTD figures which means it includes all the data from the start of the year to the quarter end. To see how to set up MTD, please see: Submit Quarterly Returns
Tommy
You must 