Hi, bakindoyin
Assuming a possible reason for the VAT rebate/refund
01. Unclaimed Input taxes/errors.
Follow the below process, if you have any questions feel free to contact me.
01. Use the Refund screen, move to the Tax centre> Returns tab > relevant Paid/Filed return line > under the Action column click the drop-down menu and select Record refund > enter the details and Save.
02. Post a journal entry as below
DR VAT Suspense account
CR VAT Control account
If errors are due to e.g. Item/Expense amount is high and the VAT amount is less and wrong tax codes e.g. VAT Exempt tax code instead of a VAT Chargeable tax code.
Note: You need to adjust the Item/Expense amount in a separate entry if the error is due to the above scenarios.
E.g. Item/Expense amount is high and the VAT amount is less correcting entry is
DR VAT Control account
CR Item/Expense
* Use the appropriate screen to correct it, journal entries will bypass some reports.
If you are referring to a different scenario feel free to comment back / for further clarifications.
Please note I edited my answer 5 hours later sorry for the inconvenience caused.
