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Quick books Desktop query

  • Associate
  • Practice Licence
  • 30 posts
  • # 114595

Hi 

I have taken over a client who uses Quickbooks deskptop (not the new online version which other clients also use) 

It is all pretty much in order however, they have a takings account, which all sales are logged into, which then card and cash payments are transferred out of into either the bank account (when the pdqs hit the bank account a day or so later) and the cash payments are transferred to the 'cash' account. I should add that both the bank and the cash accounts are reconciled and up to date.

This all works well however I have discovered some anomolies with this takings account which has not been reconciled for a while, and there are some duplications and therefore, over estimation of sales, which also means they would have paid over the odds on their VAT. 

Can I make corrections to this account using the actual dates of the erros, or should I date them as of now. Ideally, all these corrections will be carried forward to their next VAT return and adjust it? As it goes back into last summer, I just wanted to make these changes in the most transparent way.

any advice very much appreciated.

 



Edited at 06 Feb 2017 01:06 PM GMT

Edited at 06 Feb 2017 01:17 PM GMT

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