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M Har

VAT Return journal and Domestice reverse charge

SUGGESTED
Posted By

When posting the Automatic payment journal generated from the VAT return it disgregards

any Reverse charge codes,  both domestic and EU and leaves a balance in the Sales and

Purchase Tax Control Accounts  2200 & 2201

Do we need to adjust this manually to clear control accounts ?

I spoke to Sage and they said you leave the figures as they are in the VAT transfer wizard.  But we cgange from Cash VAT to Standard VAT as of the 1st March our new FY and the ibstructions from Sage says to enter new adjusted values from VAT return in the VAT return journal overwriting the automated figured that Sage had which I have been doing.  So confused.

  • 0

    What version are you using (Help > About) and which tax codes specifically are causing this? 

  • 0

    Hi version Sage 50 Accounts  29 and T15 and T21. So Sage told me to leave as they are as we don't want to post the T15 and T21 to STCA and PTCA, but we changed over from Cash Accounting VAT to Standard VAT at the start of our FY and I have done 4 VAT returns since (we do it monthly) and adjusted the Sales tax and Purchase tax amounts to suit box 1 and box 4 on VAT return as per Sage instructions when doing the changeover, but of course the instructions didn't mention if you use T21 for Domestic Reverse Charge. I started 9 months ago using Sage again after 5 years out so the DRC came into play during this time.

  • 0 in reply to M Har
    SUGGESTED

    I've tried this in my program (version 30.1) and when I post an invoice for £100 to T15, it posts

    £100 on the Creditors Control Nominal Code (2100)

    &

    £100 on my chosen nominal code (5000)

    When I return the VAT Return, the figures are in

    Box 1 = 20.00

    Box 4 = 20.00

    Box 6 = 100

    Box 7 = 100

    When I reconcile the VAT transfer option is disabled with the values set at zero.

    Repeating this for T21 gives the same results.

    It might be a case to install v30.1 if we have fixed this or if you stay on v29, you will need to adjust that vat transfer wizard manually or post the journal manually.

    Ian

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