VAT Return

ahumphrys

Hi
Please can someone help? We are completing our annual VAT return but we cant make it balance. We have looked at entries from a previous period, incorrect coding, wrong report period. Can anyone think of anything else we may have missed?
Thanks in advance
Anneka

Dinky

Hi Anneka

What software are you using? Is it possible that a journal has been processed which has been picked up by the nominal ledger but hasn't transferred itself onto the VAT return?

Sue

ahumphrys

Hi Sue
We are using Exchequer. We haven't looked at that. Its something that automatically happens but will have a look. Luckily not a very big company but big enough to cause a headache if it goes wrong.

Dinky

I haven't used Exchequer so won't be much help. Are you able to look at it on a month by month basis to see which month doesn't balance?

ahumphrys

I don't think we have much choice. We are running out of ideas now!

Thank you for your help though. If we can tick off enough ideas we might eventually find the answer.

burg

Not much help but a big issue with annual VAT Returns. 4 x the work of quarterly ones and 1/4 of the time! Done one for a client once, told them not again and if they wanted us to carry on it was quarterly to ensure they got records to us.

ahumphrys

Thanks. I totally agree. I got conned into doing this when my boss did me a favour then wanted help with this in return. I don't normally get involved with these so im not much help to her. I think it might require a helpdesk phone call!

ahumphrys

Finally found it. Period issues. The date was December but the period was the following month so didn't pick up in the VAT control account as we were only looking to December.

Thank you all for your help