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Nominal VATable Payments reversed should be shown a negative purchases in the VAT Return

If you manually reverse a nominal VATable payment, the VAT element shows in Box 1 outputs.  This causes reconciliation issues as Nominal VAT Control accounts disagree with the VAT Return

Saeed Malik
Parents

  • We started using SAGE in September2020 for a centralised finance system for 3 secondary and 3 primary schools. A lot of transactions! Having looked at our first VAT return we note there is a problem with the nominal vateable receipts and the nominal vateable payments.

Comment

  • We started using SAGE in September2020 for a centralised finance system for 3 secondary and 3 primary schools. A lot of transactions! Having looked at our first VAT return we note there is a problem with the nominal vateable receipts and the nominal vateable payments.

Children
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