Recording VAT Refund received when the received amount is bigger than submitted VAT Return

Hello Bakty, thanks for posting on the Community page, so you would have to record the £165 on the vat refund section next to the filed vat return so you can match it from the banking page.  Although the filed return is £160 only, it would still be right to record 165 on the vat refund section. Because aside from you won't be able to match it to the transaction from the for review, recording it separately as a deposit will show on their P&L report.

Hi Ashleigh,

Thanks for your reply.

Does it mean £5 will remain as balance on VAT Centre forever?
Even when we make a journal writing off £5 from 2201 - VAT suspense to interest received, then £5 is still there on VAT Centre. It doesn't look right because it is not a balance left on VAT - it is interest received.

Hello Bakty, we would advise you speak to an accountant on this if you want to take off the £5 from the VAT suspense. 

Hi Ashleigh,

we want to take off the £5 from the VAT balance which is on the VAT Centre

Hello Bakty, we would advise you speak to an accountant, if you are wanting to take off the £5 from VAT susepnse, they will be able to help you with this as we are just techncial support here not trained accountants.