Sage vat query

moozy7
moozy7 Registered Posts: 33 ? ? ?
Hiya.
My 'Box 4' number does not agree with my N/C 2201 ( Purchase Tax ) for the same date range.
I have gone through each transaction and cannot find the amount - any ideas as to how to reconcile these figures?
The amount is only £2.27 but I still need to know how to sort this out.

Thanks

Moozy

Comments

  • coojee
    coojee Registered Posts: 794
    Did you have any transactions to bring forward from an earlier period? Sage will have told you if this was the case. This happens when a transaction for an earlier quarter is entered after the VAT return for that quarter has been reconciled. The only other thing I can think of is that you have a T9 transaction in the PLCA, just scan down the Tax code column and look for it.
  • sheelagh
    sheelagh Registered Posts: 133 ? ? ?
    VAT return

    I usually compare the Box 4 figure to the TB figure at the quarter end date rather than the history total.That way any transactions from an earlier periods are included. This assumes you are using standard VAT. If you are using cash accounting, the figures won't necessarily match and you would need to do a difference reconciliation.
    Box 4 will include the VAT on any EU purchases. Depending on how your EU VAT codes are set up, and which version of Sage you are using, your might also see the £2.27 in box 2 and the corresponding Net figure in box 8. That's fine, you just exclude the £2.27 from your journal.
    Lastly, you could have accidentally posted to nominal code 2201. As coojee says, T9 is easy to spot, but you could have posted any transaction to nominal code 2201 in error. Try using FIND in financials to search for £2.27 as Amount Paid, Net Amount or Tax amount
  • sdv
    sdv Registered Posts: 585
    moozy7 wrote: »
    Hiya.
    My 'Box 4' number does not agree with my N/C 2201 ( Purchase Tax ) for the same date range.
    I have gone through each transaction and cannot find the amount - any ideas as to how to reconcile these figures?
    The amount is only £2.27 but I still need to know how to sort this out.

    Thanks

    Moozy

    Sage is VERY date sensitive!

    Make sure that each transaction's date fall within your vat period. (both for the transactions on the vat report and N/C 2201)

    next step if that all right!

    Export your VAT input data to sage

    and export N/C 2201 date to sage


    total every month's vat in the spread sheet and compare the data.

    soon you will be able to narrow the data range where the difference is.
  • AK002
    AK002 Registered Posts: 2,492
    £2.27? Write it off. It'll cost you more trying to find it.
  • moozy7
    moozy7 Registered Posts: 33 ? ? ?
    Thanks so much for all your replies.
    I know that £2.27 is a small amount - and I probably will.
    But if I can work this out, and go through the motions, then i can sort out any bigger messes if they happen in the future.
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