VAT return query
Posted: 28 Sep 2007, 21:44
I run Sage Line50 Accountant v8. I am unable to upgrade as the sales / purchase software I use is written specifically for v8.
I have just run the VAT Return routine and come up with a very high figure on 'Total value of purchases, excluding VAT' (Box 7). I ran the Detailed VAT report which shows that various T0 code Bank Payments are recorded which I wouldn't expect to see, eg VAT Payment, Net Wages, EE & ER NIC. There are a number of zero VAT purchases that appear which I would expect (eg tea, coffee, milk purchases and purchases where a VAT invoice has not been obtained). Even allowing for these figures the 'Total value of purchases, excluding VAT' is very high - by a factor of about 3.
All previous VAT return figures are shown as being reconciled.
I've been struggling with this all week so any help would more than appreciated.
Many thanks,
John
I have just run the VAT Return routine and come up with a very high figure on 'Total value of purchases, excluding VAT' (Box 7). I ran the Detailed VAT report which shows that various T0 code Bank Payments are recorded which I wouldn't expect to see, eg VAT Payment, Net Wages, EE & ER NIC. There are a number of zero VAT purchases that appear which I would expect (eg tea, coffee, milk purchases and purchases where a VAT invoice has not been obtained). Even allowing for these figures the 'Total value of purchases, excluding VAT' is very high - by a factor of about 3.
All previous VAT return figures are shown as being reconciled.
I've been struggling with this all week so any help would more than appreciated.
Many thanks,
John