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C
CFS Fabricoat
January 3, 2020
Solved

VAT Summary showing brought forward balances

  • January 3, 2020
  • 16 replies
  • 12 views

Since starting MTD I have come across and issue with my VAT summary and therefore I presume my returns
I have only ever used QB to calculate the VAT but have never 'closed down' each quarter so each quarter I just minus the brought forward balance to give me the actual period balances then entered these within the Government Gateway.
I have been able to adjust the VAT on boxes 1 and 4 (no EC  sales or purchases) to read correctly but I have tried everything to remove the brought forward balances on net sales and purchases (Boxes 6 and 7)
Anyone got any ideas ?

Best answer by CFS Fabricoat

HI Jack

 

That is correct, we must apologise that we incorrectly assumed that you were using the online product.


That would answer all of my problems (I knew i had marked it as a Desktop question)

All now done, corrected and filed thankyou 

16 replies

P
payment after leaving
Level 10
January 3, 2020

Hi Jack

 

The VAT has to be marked as filed before you start submitting using MTD to close off the period figures so you then can begin at zero/with the figures already entered on the open return/period that HMRC are expecting. We suggest that you turn off MTD and correct the figures in accordance with those submitted to HMRC, adding the filings at HMRC together so you  obtain the figures to correct them in QuickBooks. You can hen do one large period filing from when you began recording in QuickBooks, the end date should be the last one you manually filed at HMRC. Then switch on MTD and the period should be the one that HMRC are expecting.

C
CFS FabricoatAuthor
January 6, 2020

Sorry for what could possibly be the most stupid question of the day but how do i turn MTD on and off ?

S
SarahannC
Level 9
January 6, 2020

I need to get this sorted as I have to file my return no later than tomorrow !!!!!!!


Hello there, Jack Russell. 

 

Let's check if this has something to do with the data integrity issues. Now, let's run the verify and rebuild to check data issues within your company file and resolve this as soon as possible.

 

Here are the steps that will walk you through verifying the data:

  1. Click the File menu.
  2. Select Utilities.
  3. Choose Verify Data.
  4. If the Verify Data pop-up window appears, just click OK.

 

Then, here's how to run rebuild data:

  1. Go to the File menu.
  2. Choose Utilities.
  3. Select Rebuild Data.
  4. QuickBooks will prompt you to create a backup copy, click OK.
  5. Follow the on-screen instructions to complete the backup. 
  6. Once the process is complete, click View issues.
  7. Close the QuickBooks Verify/Rebuild Results window.
  8. Close and open QuickBooks again to ensure all components are updated.

 

Keep me posted on how these troubleshooting steps go. I'm right here to help you more in case you have follow-up questions! I hope you're good.

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