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J
Jockietee
January 6, 2021
Question

Standard to Cash Accounting Adjustment

  • January 6, 2021
  • 1 reply
  • 0 views

QB was set up incorrectly and had been using Standard accounting - have changed to Cash for this quarter.

 

The totals for the duplicated transactions which had been included in a previous return differs from the Open Transactions (£1375.13) on the return to the figures I worked out manually (£2881.10).

 

I need to adjust the VAT Return on boxes 1 and 6  - I have created an adjustment account - what tax rate should I be selecting?  Also on box 6 the Open Transaction figure is similar to the one shown in box 1 - should this not be the net sales figure?

1 reply

A
Ashleigh1
January 6, 2021

Hello Jockietee, 

 

Welcome to the Community page, 

 

We are not trained accountants, just technical support, therefore we are unable to advise which vat code to use for your transaction, if you are not sure, which one to use, we advise that you seek advice and reach out to a trained accountant who will be able to advise you on this. 

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