minus vat figures

[scooby456]

we recently changed to TAS firstbooks, Ive been entering 'money out' and supplies as i always did on normal Tasbooks. Why is box 4 in the vat form coming up a minus number? (box 2 is empty)
When I look in the detailed report it seems to be separating the vat between 17.5 and the 20, even tho Im using the 20% vat code because the purchases were made in 2011.
Is this correct or have I done something wrong?

 

[MyAccountantOnline]

Sorry I cant help on that not using TAS - it might be better posting in the TAS forum.

 

[sammy.sammy]

I think its fine, as far as you are loyal and manage your accounts properly.











<link removed by mod>

 

[elaine@cheapaccounting]

Send a PM or contact user David Richards on here - he is your TAS man

 

[David Richards]

we recently changed to TAS firstbooks, Ive been entering 'money out' and supplies as i always did on normal Tasbooks. Why is box 4 in the vat form coming up a minus number? (box 2 is empty)
When I look in the detailed report it seems to be separating the vat between 17.5 and the 20, even tho Im using the 20% vat code because the purchases were made in 2011.

It's a bit difficult to say without more information. But here are some thoughts.

Box 2 is is the VAT due on EC acquisitions, so I'd expect that to be zero.
If box 4 is negative, it suggests that you've entered more supplier credit notes than supplier invoices in that VAT period. So when you look at the detailed VAT report, check the transactions carefully to make sure they have been entered correctly.

If you're seeing transactions at both 17.5% and 20% on the detailed report, are they all dated in the current quarter? If you're seeing older transactions, it may be that you didn't complete the VAT return for the previous quarter. Again look at the listed transactions carefully (you can drilldown on them to open up the original transactions) to make sure that what you're seeing is what you expect to see.

It's probably best if you give support a call. After looking at a couple of transactions with you, I'm certain they'll be able to tell you exactly what's wrong.

 

[scooby456]

thanks David, Ill give them a ring as I know its not credit note errors.