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Quick books - Vat reconcile

mc25mc25 Well-KnownRegistered Posts: 232
Just a quick question. One of my client did VAT return on Quick books forgot to reconcile the amount on that period, I know what went through that period as i have got a print out. which is the easiest way of tieing it up before next Vat return. I had manually started reconciling it by going on to chart of account then vat control account and make all the transactions I know fall on the previous qtr as (Filed)reconcilled. The only problem is this is not recording the figures in box 6 and 7.

Any ideas... :)


  • AK002AK002 Font Of All Knowledge Registered Posts: 2,492
    If it's anything like sage and you only need to the transactions marked in sage so it doesn't pick up those figures next quarter would be to post this quarters as normal and run the return (which would pull in 2 quarters figures) and deduct the previous return.
  • mc25mc25 Well-Known Registered Posts: 232
    Thanks for your reply, will give it a try.
  • JodieRJodieR Experienced Mentor Registered Posts: 1,002
    I do this on a regular basis and I think that the best way to do it is run the VAT detail report and compare it to the original figures that were filed. It's usually just a case of a few extra transactions entered since the filing date, so I double click on each new transaction to open it and then change the date to 10 years in the future (ie an invoice dated 15/03/2010 I would change to 15/03/2020). Once all the additional transactions have been moved out of the way the VAT report should correspond with what was filed, then you can file the return and then run the VAT detail report again extending the date range to 2020 and change all the transactions back to 2010. On the rare occasion where I can't find all the discrepencies I enter a bill/credit note to 'bodge' the figures to match and then enter the reverse of the adjustment in the following period to keep it right.
    Also, if you don't have a list of the actual transactions that made up the figures filed it's often worth seeing if a backup was made around that time and restoring that to see whether it's got a more accurate list.
  • mc25mc25 Well-Known Registered Posts: 232
    Jodier thanks for your help. I did that, sorry took so long to reply I haven't had internet for nearly a month.. thats virgin media for you. I am back now.
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