The Book-keepers Forum (BKF)



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Posts: 2

Can someone help me out there please?

I have reconciled a sales receipt with the bank and have come to do my VAT return and realised the customer concerned should not have been charged VAT.I don't usually use the cash accounting system and thought I would just be able to alter the VAT code as the return has not yet beenprocessed. SAGE wont let me stating that it has been allocated to a receipt and has been VAT calculated. How do I correct this please?

Kathleen Smith


Status: Offline
Posts: 827

I'd raise a credit note with vat, then refund the customer. Next step, I'd re-raise the invoice correctly and post a new receipt. To keep the bank rec straight I'd contra the refund against the receipt.


Responses are intended asoutline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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