Vat Returns - way to exclude specific transaction numbers?

[vatreturnq]

In the company I work for, an agent submits our VAT returns on our behalf.

I do up the VAT returns using SAGE, check for accuracy versus a spreadsheet and then e-mail the working files across to the accountants who submit the VAT returns.

I them am supposed to go into SAGE and reconcile the VAT return.

On this instance I left out the final part.


So, the vat returns have been submitted to Revenue, but now if I was to run the vat return on sage it would not tie up with what was actually submitted to the revenue. There are 14 transactions that have been done on our sage system that account for the difference. Some of these transactions are new invoices added and some are deleted invoices.


Is there a way to exclude these invoices when doing up the VAT return or is it a case of trying to delete the transactions/putting invoices on to delete them again after the fact, in order to have sage vat return match what was submitted to revenue?

I appreciate any help you can offer me with regards to this.

[brucedenney]

The best way to deal with this is to run the vat return next time for the combined period of the 2 returns, reconcile it and subtract what was submitted this time.

[vatreturnq]

We do VAT returns on a bimonthly basis, so it will be four months.

So the issue is with the Sept/Oct VAT returns, you are suggesting to run a Vat return for Sept - Dec as one and what was submitted for Sept/Oct will be subtracted from the Sept-Dec figures and be submitted to Revenue -> I get this.

Would it make sense if I run the return without pressing submit/reconcile, then work out the correct figures and then manually amend VAT returns for Sept/Oct and Nov/Dec in order to have sage the same as what has been submitted to revenue.

I'm just thinking from an Audit point of view it might be easier vis a vis having to explain what happened to the auditors.

Many thanks for your help.

[brucedenney]

It is going to need to be documented and explained unless it is crystal clear what has happened.

There are multiple ways you could do it, as long as you know what you are doing then there are multiple ways to achieve the same thing.

I don't entirely understand what you propose. In theory it sounds like you are going to fudge the current return with an adjustment to make it retrospectively line up with what was submitted and then reverse the adjustments on the next return. In principle I can see issues like, forgetting to do the adjustments next time and things like that, so I am not keen on it.

Fixing it all in one go next time avoids the risk of getting things half fixed and forgotten about.

[vatreturnq]

Hi,

Essentially all i'm looking to do is fix it in a way so that Sage ties up to the VAT return which was already submitted to revenue.

As obviously invoices from Sept/Oct have been entered on sage which were not previously picked up in the return submitted to revenue and as such when I do the sept/oct vat return on sage now, it spits out different numbers.

I hope this makes sense.

[brucedenney]

I would fix it at the next return. Run the return for the combined period of the 2 returns, subtract what was submitted the first time to work out what needed to be submitted this time.