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November 26, 2019
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How I get supplier invoices from the VAT exception report (which arrived too late for previous VAT return) to go on the current return VAT 100 report?

  • November 26, 2019
  • 2 replies
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Hi info531

 

Did you originally account for the transaction/s in the previous period? If you haven't and you are now accounting for them they create exceptions in the present quarter. The exceptions should be there as you are accounting for transactions in the present period as you are unable to include them in the previous period.

2 replies

JamesC
November 26, 2019

Hello Info531

 

Thank you for your post on the Community Pages.

 

When you've updated the system, it has generated the exception report. There is no way to combine these into one report as they are treat as the standard, and a corrective report.

 

However; when the information is sent to HMRC through the QuickBooks connection; the Exception details are sent alongside the VAT100 Standard details - so HMRC will have the correct figures sent to them if they are showing under the current periods exception report.

 

 

paul72
November 27, 2019

Not strictly the "right" way to do it but, as long as you aren't talking about £000s of VAT, HMRC won't raise too much of an objection...

 

Enter the supplier invoice date as 1st day of current VAT period.

Make a note in QBO to show something like "Actual Date = *****"

Forget about exception reports.

Ask supplier to get a wriggle on next time.

 

The only time this might cause more of an issue is where the new date & correct date are in different tax years.  QBO would report expenditure lower than actual but your accountant should be able to adjust if you explain what you've done.

November 27, 2019

Hi info531

 

Did you originally account for the transaction/s in the previous period? If you haven't and you are now accounting for them they create exceptions in the present quarter. The exceptions should be there as you are accounting for transactions in the present period as you are unable to include them in the previous period.