Not Vat Registered Help Please

yves Registered Posts: 28 πŸ’« 🐯 πŸ’«
I have a new client to provide book keeping duties

previously a family member has been inputting data to a sage accounting package

my client has formed a limited company but in not vat registered

however all the suppliers invoices have been entered as if he was vat registered using T1

can anyone give me advice on the quickest way to amend the entries

seems alot of work was wondering if I should just journal out the VAT and debit
the relevant nominal codes

any advice would be much appreciated




  • sheelagh
    sheelagh Registered Posts: 133 πŸŽ† 🐘 πŸŽ†
    I think the journal you suggest is a good solution. Unless you are hoping to produce monthly management accounts for earlier months it would probably be quicker to ignore the date of the original transactions and post all of your journal entries in one batch dated the same day - eg 31st March 2008. Hopefully all your erroneous postings and the adjustments will be in the current financial year.
    If I was doing this job, I would generate a nominal activity report for the Purchase Tax Control Account, download it to a .csv file, analyse by cost to calculate the total adjustment for each expense code, and post a journal with totals for each of the relevant nominal accounts.


  • yves
    yves Registered Posts: 28 πŸ’« 🐯 πŸ’«
    Hi Sheelagh

    thanks for your input

    I think i will be doing a journal just needed the opinion of others to confirm my plan of action was the correct and best way

    thanks again

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