Vat
donnas1977
Registered Posts: 182 Dedicated contributor 🦉
Hello
on running month end reports, my VAT is out by 1p (looking back it has been out like this for a few months). Can you post a journal entry to rectify this problem (if so what would the journal entry be for)
Thanks
Donna
on running month end reports, my VAT is out by 1p (looking back it has been out like this for a few months). Can you post a journal entry to rectify this problem (if so what would the journal entry be for)
Thanks
Donna
0
Comments
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Hi Donna
Yes can do a journal, but you would need to find out which other account was out by 1p in order to do the double entry.
I am not sure doing a journal is worth it. It should probably be flagged up to your boss who may well decide just to do a write off?
Lorraine0 -
this amount can be written off as the HMRC will not do an investigation that will cost them £300+ to investigate to get back a % of a penny ???think about it !0
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As above write it off to purchases or something or amend the VAT return by a penny.0
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DB Suspence/cash difference (or anywhere you place mispostings)
CR Vat Liability (sorry forget nominal)0 -
I work for the NHS and altough we pay millions each month, I have to sort out a VAT deficite of 1p.....and with 4,500 suppliers I want to pay HMRC myself!!!!
Who even cares about this 1p!!!!
LOL0 -
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marknotgeorge wrote: »It'll be on the account for the ginormous flat-screen in the chief executive's office...
lol dont forget the meal and first class travel to and from work everyday0 -
I work for the NHS and altough we pay millions each month, I have to sort out a VAT deficite of 1p.....and with 4,500 suppliers I want to pay HMRC myself!!!!
Who even cares about this 1p!!!!
LOL
ok who have you annioned lol
Sorry advise before was for sage and you use oricle and not 100% sure how to use that program.0 -
reminds me off richard prior in superman nicking all those 1/2 cents from the company and getting a check for 1000's....love that film !0
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mark130273 wrote: »reminds me off richard prior in superman nicking all those 1/2 cents from the company and getting a check for 1000's....love that film !
superman 20 -
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OMG - 1p out - get a life write it off - it would probably cost more to your employer for you to find it.
I know some people I've come across just won't write off a penny as they say they're so particular and have to find it but really it's not worth it - as soon as the accountants get hold of the books what do WE do - WRITE IT OFF!
Vonni0 -
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Superman 3 actually Vic. Number two was the one with Lex Luthor and the return of those three baddies who were sent off at the beginning of the first one on some sort of flying mirror.
Didn't take long for a query over VAT in Sage to work it's way to Superman did it?
That was A-Vics doing, not mine - for a change
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go on then blame me !!!!0
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mark130273 wrote: »reminds me off richard prior in superman nicking all those 1/2 cents from the company and getting a check for 1000's....love that film !
actually it was mark0 -
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mark130273 wrote: »i knew it .................i would get the blame............
dont worry mark i still blame gimp boy 0 -
strangly enough so do i.......we all wouldnt be as much posting if gimp boy didnt try and post the last post of each thread......
only a simpleton would try adn do that...........oops......hahahha0 -
mark130273 wrote: »strangly enough so do i.......we all wouldnt be as much posting if gimp boy didnt try and post the last post of each thread......
only a simpleton would try adn do that...........oops......hahahha
You lot would be lost with out me....0 -
no..............dont your mean "you lot will be better off"
hahahahahahaa0 -
Well, since this thread never really got started I guess it was okay to hijack. It does annoy me how some one post wonder will start a thread, not come back for days or even weeks afterwards, maybe find a few stray off topic comments posted after the thread has stagnated and then complain about it being hijacked.
Or ask inane questions such as "What time is it in China right now"?
To which I will say just two words, one of which is "you".0 -
Well, since this thread never really got started I guess it was okay to hijack. It does annoy me how some one post wonder will start a thread, not come back for days or even weeks afterwards, maybe find a few stray off topic comments posted after the thread has stagnated and then complain about it being hijacked.
Or ask inane questions such as "What time is it in China right now"?
To which I will say just two words, one of which is "you".
is the other word "thank" ?0 -
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superman 2mark130273 wrote: »thats the one......brilliant.......but superman 3 the best with the 3 baddies..
You've got it the wrong way round. 2 was with the baddies. 3 was the one with Richard Pryor. 4 was just pants.
EDIT: ok, ok, so blobby got there before me. I've been at college, ok?0
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