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Thread: VAT CONTROL ACCOUNT CORRECTION

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    Post VAT CONTROL ACCOUNT CORRECTION

    HI MY NAME IS ISABEL , HOW TO CORRECT DEPOSIT THAT WAS MADE IN CASH BOOK INCLUDING VAT , SHOULD BE EXCL ( INVESMENT ACCOUNT)

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    Diamond Member Mike C's Avatar
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    Hi issie - welcome to the forum.

    I presume that you have updated the cash book already? If so then do the following.

    First make a backup so that if your correction does not work out as you expected you can restore and try again.

    Now re-enter the deposit in EXACTLY the same way as you did the first time ... same date etc including VAT ... BUT make your entry a minus figure. This will reverse your erroneous entry.

    Now do the entry correctly exclusive of VAT.

    Update your cash book and check your journals.
    No act of kindness, no matter how small, is ever wasted. - Aesop "The Lion and the Mouse"

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    Quote Originally Posted by Mike C View Post
    Hi issie - welcome to the forum.

    I presume that you have updated the cash book already? If so then do the following.

    First make a backup so that if your correction does not work out as you expected you can restore and try again.

    Now re-enter the deposit in EXACTLY the same way as you did the first time ... same date etc including VAT ... BUT make your entry a minus figure. This will reverse your erroneous entry.

    Now do the entry correctly exclusive of VAT.

    Update your cash book and check your journals.
    THANK YOU IT WORKED

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    HI THE COMPANY I WORK FOR SOLD A BAKKIE DO I INVOICE IT INCLUDING VAT ( LIKE A NORMAL INVOICE ( SALES OR DIFF) PLEASE HELP

    THANKS

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