EU Account

mc25

HI, Just obtained a client who has got a Euro account and they are VAT registered. when I have looked at the transaction and how they have set it up on sage, all transactions has gone through as the actual Euro amount on the bank statement/invoices, looking at sage setting they haven't changed to show its a Euro account so for years they have been posting all transaction in Euro. My main concern was when they have done the VAT return surely this wont be right, as the figures they have used are all Euro and not converted to GBP figure.

What are your views on this one?

deanshepherd

Ouch.

mc25

Exactly that is what I thought as well... not sure what to do??? grrrrrrrrrrrrrrrrrrrrr might ring AAT helpline to see what they will say