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• # 79611
• Tue 14 Feb 2012 12:03 PM

 I just need to jog my memory!, Amoungst the adjustments sent to me for year end adjustments, one was a Cr. Adjustment  for VAT liability,(which have been entered on sage). When I come to do the VAT return, do I need to just tell / hand write on copy of sage print out this additional amount to pay or do I adjust actually enter  on to sage as adjustment. I suspect it is manual, but I have just gone blank!

Paul

• Paul Ingram
  (01722) 466647
  www.aeternum-bookkeeping.co.uk
  
  
   
  

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• # 80606
• Wed 07 Mar 2012 11:49 PM

Hi Paul

The accountant has adjusted your Sage for you with his year end adjustment. I would therefore manually adjust the vat return. Do a spread sheet with the adjustment clearly shown and keep it with your copy vat returns etc 

Have you enquired to what the adjustment is for? Is it a genuine mistake or a timing error? Quite often accountants do not give reasons or even a break down as to what the differences are, after all they are only humans????

You can also prepare your reconciliation:

Print the TB off, at the vat period end, and add the following, Sales tax, Purchse tax and vat liability. These should come back to your adjusted vat return total. 

Enjoy

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• # 80648
• Thu 08 Mar 2012 11:36 PM

Hi Paul

I would definatley ask why the accountant is making the adjustment before going ahead and adjusting your net VAT return.

You may not agree with their adjustment or could have sorted this out post year end and already adjusted your sage.

Kind regards
Stuart      

• Forum Moderator, South East & Greater London Regional Chairman
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• # 80657
• Fri 09 Mar 2012 09:21 AM

Thank you for your replies. I have already rang the accountants who have given me an explanation for this.

• Paul Ingram
  (01722) 466647
  www.aeternum-bookkeeping.co.uk
  
  
   
  

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