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VAT and reallocations
Checking through last years accounts and noticing some errors made on the ex accountants side.
We now have a new accountant and would like to point out the things I've spotted.
1. There are some wrong allocations as well as allocations including VAT when its not claimable and vice versa...
2. Not all of the foreign invoices (which do not attract VAT have been put on the VAT201's) - this could cause an issue when submitted that record as total sales on VAT201's wont match up to total sales on accounts.
To correct this do I just post prior year journals with the corrections (there are about 10.)
would I need to then resubmit VAT201s with corrected amounts and the addition of ALL foreign invoices? (just the ones affected)
I want to correct all of this before handing over to the accountant so they can do the year end.
We now have a new accountant and would like to point out the things I've spotted.
1. There are some wrong allocations as well as allocations including VAT when its not claimable and vice versa...
2. Not all of the foreign invoices (which do not attract VAT have been put on the VAT201's) - this could cause an issue when submitted that record as total sales on VAT201's wont match up to total sales on accounts.
To correct this do I just post prior year journals with the corrections (there are about 10.)
would I need to then resubmit VAT201s with corrected amounts and the addition of ALL foreign invoices? (just the ones affected)
I want to correct all of this before handing over to the accountant so they can do the year end.
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