We often create partially complete invoices which are added to/amended as a job proceeds over a month or two and which are then finalised and sent at the conclusion of the job. Generally speaking we amend the date of the invoice as additions are made.
Having just submitted a VAT return I have noticed that one of the incomplete (unsent) invoices with dummy figures in was accidentally left dated within the submitted quarter so making the return incorrect and also preventing me now amending the invoice to send out!
Please do you have any advice on the best way to clear up my self inflicted mess?
Hi Simon,
I think the best solution in this case is as follows:
Update the invoice amount and date to be correct (ie. from the previous VAT period to the current VAT period)
When preparing your next VAT return, view the VAT Return Detail report in Solar Accounts and set the period to be 6 months instead of the usual 3 months. In this way you should cover the original date and new date of the invoice.
For each figure in Box 1 to 9, subtract the corresponding figure that you submitted to HMRC on your previous VAT return. The result will give you the correct figure to submit to HMRC on your current return.
By the way, consider using a Quote to keep track of the details of an invoice you expect to create in future. A quote has no effect on your accounts, and when the time comes you can convert a quote to an invoice by clicking More Options > Copy To Invoice.
Regards,
Hi Mark,
Thanks for the advice that seems pretty straight forward that even I can manage!!
I can't believe I never thought to use the quote system - so obvious when it's pointed out.
thanks
