Difference between VAT sales value and total sales on P & L - The Book-keepers Forum (UK)

ck1974 · Veteran Member

Difference between VAT sales value and total sales on P & L

Merlion ABS · Senior Member

Ok, when you say they should match, I assume you mean that your VAT periods match your accounting year.

Have you posted anything into the sales nominal codes by mistake that could be the difference?

Have a quick scan through and see if there are any strange debit entries.

If not, then you will have to break it down by month and quarter.

Can you match the sales per the VAT returns each quarter to the Sales per Profit & Loss per the same period.

This can instantly identify which quarter is wrong, so you dont have to look in detail through everything. Once you have compared on a quarterly basis, if you find a difference you can then go over it in detail by agreeing each transaction.

What Accounting software do you use?

ck1974 · Veteran Member

hi there, thanks for the reply. The vat quarters run inline with the year end so makes it easier, or you would think so.

I have scanned through and there are no anomolies, its just bizarre and very frustrating, but it isnt just down to one period, there are small amounts over all four. I have found a couple of hundred pounds but cant seem to find anything else.

ck1974 · Veteran Member

I use Sageline 50 Accountant version 10. Ive been pulling my hair out for days !

ck1974 · Veteran Member

Some of the difference has come when we have received a cash refund from the supplier, I credited it to the original nominal code of 5001 for parts but that isnt included in the sales figures which are all 4000's. But thats only a couple of hundred pounds worth, there are no journal entries which could affect it either.

RobH · Expert

Run a sales day book listing for invoices and credit notes to see what the true figure should be.

Could you have posted a sales invoice a bit late, ie after the VAT return had been run?

Rob

attilabenko · Guru

I am having similar problems but in my case client calculated sales from daily cashing up sheet as sales figures and took z reports gross sales as sales for VAT purposes and the two are not matching (and not only by a few pounds). And to make me even happier lot of days their net sales are higher than gross sales on z reports, I don't know why as all their prices vat inclusive. So well comes year end and VAT return I don't know yet what I am going to do (it is a newish client on yearly vat), probably just gonna take the higher figure of all as their sales. For the moment being I am not even entering it in sage just in excell, firstly I need to think of a good solution to avoid lots of adjustments and corrections later in sage.

Merlion ABS · Senior Member

Hmm, what VAT code did you use for the cash refunds and did you account for the VAT on it?