Deleted translation from filled VAT period

karolSDL · ‎April 07, 2023

Hi All,

Hope someone can help, I deleted Bill from filled VAT period... I know very big mistake, although I was always though not to.

Now I am preparing next period to file for VAT with HMRC and that deleted value appears under report as credit for total purchases. Transaction was added under reverse charge VAT, so it does not affect final VAT value due. However, I can not view it as it is deleted. Looking at balances on other accounts everything seems to be ok, means the transaction value is not under supplier a/c, etc.

I spoke to my accountant, but not sure if he looked properly, as he told me to add credit under supplier a/c under that filled period. I did so and now have two credit values under my current VAT report for purchases and supplier credit outstanding under suppler a/c. I do not think that is correct.

1. Should I delete created Supplier credit transaction? Will system also remove it from current exception list?

2. What shall I do about situation of originally deleted Bill? System seems to pick up the change correctly, but I am not sure if I should try to re-create it somehow. Looking at accounts balances, seems that not be needed.

Regards,

Karol

MirriamM · ‎April 07, 2023

Hi there, Karol. Thanks for posting in the Community space and providing detailed information about your concern.

There's no need for you to delete created supplier credit transaction. All you have to do is to adjust the amounts on the return. But before doing so, I recommend consulting your accountant or accounting professional to ensure that your reports are right after the adjustment.

To adjust, here's how:

Go to the Taxes menu on your QuickBooks Online (QBO) account.
Choose VAT.
Locate the return you need to modify.
Select Adjust to increase or decrease the amount.

To help ensure that no VAT is missed or duplicated when reporting to HMRC, check out this article: VAT exceptions and reports in QuickBooks Online.

For future reference, here's a great article to guide you with the list of common VAT codes and how they are used on your sales and purchase forms: VAT codes in QuickBooks Online: A complete guide.

If you have further questions about VAT returns, let me know by commenting below. We're here to lend a hand. Have a great day!

karolSDL · ‎April 07, 2023

Hi Miriam,

Sorry I am not sure about your suggestion, adjust the vat report in which way? By removing value of crested supplier transaction? The transaction value will still stay on the account, whereas the deleted transaction is not showing anywhere (on any account) than the current vat report.

Rgds

Karol

emmam6 · ‎January 16, 2024

Hello Community users, we just wanted to pop in and add to this thread. If the transaction was deleted from the previous months return it will create an exception in the next return to make up for the change. If you incorrectly deleted the transaction you can recreate it yes however it will show in the current return also in exceptions. It should then show correctly.

We'd really suggest speaking with an accountant or HMRC as we're not trained accountants however.

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Deleted translation from filled VAT period