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Help! VAT Control Account

Julie2011Julie2011 Feels At HomeRegistered Posts: 33
Hi All

I'm having some trouble with year end VAT control account. The company started out on standard accounting and ended up in the last quarter on cash accounting. Although my control account on my VAT summary works ok (within a few pounds) once posted into the year end accounts, the balance is out by about £1700. Could anyone help with regards to how to check this figure?? Should I be doing an extra calculation that adds on the VAT from debtors and deducts vat from creditors??

Any advice really appreciated!



  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    If you are finishing on Cash Accounting, the balance in the accounts on the VAT account will always be on an accruals basis, i.e. the balance of unpaid debtors and creditors.

    It is correct to show it as the accruals balance in the final accounts. The cash accounting VAT returns are for VAT purposes only.
  • Julie2011Julie2011 Feels At Home Registered Posts: 33
    Thank you
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