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Post Info TOPIC: Sage using gross sales for vat return
MichaelWGroves


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Sage using gross sales for vat return
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I'm dong my first vat return in Sage.

I enter a sales invoice which looks correct, my net figure is correct as is vat, all looking good.

When I pay this invoice, Bank - Customer  - Pay in Full. I notice it only shows the gross figure. 

When I look at the journal entry, it's put the gross figure in the net column. 

When I run my vat return, it correctly shows the amount of vat, but it's putting the gross sales in the net sales box.

 

Any thoughts ?



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MichaelWGroves


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So, after a bit more research, seems Sage might be correct and my spreadsheet is wrong.

I've got some more checking to do, but wanted to post back quickly. I'll update again shortly

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MichaelWGroves


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Maybe it was wishful thinking that it was a spreadsheet problem. It's defo Sage.

I tried doing a bank receipt, the ledger looks correct this time, detailing both the net and vat amounts. But the vat return is still the same. Using gross sales.
I've noticed both ways have an 'N' in the vat column in ledger. What does this mean ?



-- Edited by MichaelWGroves on Saturday 24th of December 2022 12:26:31 PM

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MichaelWGroves


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The vat column is for vat reconciliation 'Y' or 'N'

So I'm now stuck



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MichaelWGroves


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And after all that, it was a spurious calculation in the spreadsheet when I was going from gross to net. My bad

Have a great Christmas everyone

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