I am hoping someone will be able to assist me with the VAT Control Account
I am using Pastel Xpress Version 11
I have recently taken over the books for a (small) farming company, I was trying to reconcile the accounts and noticed that the VAT Control Account doesn't balance with the VAT returns (The VAT is was processed manually and reconciled on Pastel at a later stage). The Company is a CC so it has not been audited
The last time the figures balanced was February 2013.
I noted while manually going through Transaction Audit Trail the following:
1. The company receives a Diesel Rebate which is usually paid separately but on the occasions that the company owed money to SARS the Diesel Rebate was deducted from the monies owed, it appears that this amount was then allocated to the VAT Control Account and so the full amount Due and Paid was not allocated correctly. How do I amend this?
2. Some Invoices were processed incorrectly in the Cash Book (Bank Account) eg: Repairs was processed with no Vat when it should have been processed with VAT, I have noted a number of these transaction between 2013 and 2016, Can I amend this? What do I do if they were processed as GL Accounts and What do I do if they were processed under the Supplier Accounts?
The year end for 2015/2016 has already been done, but the year end financials have not been done yet Is there a way to amend these discrepancies in the 2016/2017 or should the adjustments be done in the 2015/2016 financial year?
I do not often work in Pastel and am finding it a little difficult to manoeuvre through all these mistakes
Any help would be much appreciated.