hi can I edit figures in box 1 ive put wrong figures thank you for anwser
@nasirshafi74506 ай бұрын
if we have made a mistake in the VAT return for the closed accounting year, correction process will be the same?
@ahmedmusa42 Жыл бұрын
you are the best very clear explaination.
@LouiseSoakell Жыл бұрын
How can i adjust the VAT on an expense claim by a penny? It doesn't allow me to. Do I have to create a bill from this receipt?
@XUSolutions Жыл бұрын
there’s a video on my channel that explains how to do this.
@SuperYkf3 жыл бұрын
Thanks for your helpful videos. I am a believer/subscriber :). Can I check the steps in this video will apply if I had submitted the wrong VAT codes for earlier VAT quarters and need to adjust the transactions for the next quarter? Also will Xero report the correction to HMRC or will I need to submit the 652 form?
@XUSolutions3 жыл бұрын
Yes that will work. If you are nervous or unsure, look at your VAT return, amend one transaction then look again so that you can check the impact.
@LouiseSoakell2 жыл бұрын
Hi there, can you help me? When I am creating an invoice it is only giving my the option of 20% (VAT on expenses) and not for incomes. Why is this and how on earth do i correct it. Thanks for all your videos, they are so clear and so helpful!!!
@XUSolutions2 жыл бұрын
Are the Tax Rates all set up in the Advanced section?
@samna7893 жыл бұрын
Thank you. How do I process a VAT only invoice I'm Xero?
@XUSolutions3 жыл бұрын
I’ve got a video planned to cover this. What’s the reason you need to do a BAT only invoice to make sure I cover it?
@jyotinaylor3 жыл бұрын
Thanks for the video, I have all my permission set as full but I don't see the 'Transactions by VAT Tax' tab or the 'adjust' link?
@XUSolutions3 жыл бұрын
If you’re not set up for Making Tax Digital your backup will still be there but the Tab may have a different name.
@jyotinaylor3 жыл бұрын
@@XUSolutions I'm on the Flat rate scheme and apparently you don't see these options I was told in FB group
@farahsabz84682 жыл бұрын
Hi, after I signed up to MTD - it looks complicated. I have corrected some vat transactions from the previous quarter and was trying to submit my vat return for Thai quarter. I get a message on the screen saying this vat return cannot be submitted because there's changes to previous submitted vat return
@XUSolutions2 жыл бұрын
Sorry, it's not clear to me what you have done. How did you correct your transactions? Any amended transactions usually appear in the next VAT return.
@barbscastillo80243 жыл бұрын
What if the client recorded the VAT for import transactions using EC Acquisition (20%) code for VAT period Jan 2021 - Mar 2021 and had submitted it? How to correct it? Thank you!
@XUSolutions3 жыл бұрын
Edit the transaction and choose the correct VAT code
@spennysimmo30062 жыл бұрын
Hi Marion. Presumably this will make the previous VAT quarter that has been submitted and filed incorrect in Xero compared to what was filed but will be corrected in the next quarter and will balance out over the two quarters?
@XUSolutions2 жыл бұрын
Yes that’s pretty much how it works … you enter transactions incorrectly, the VAT return is submitted with errors, you correct your errors and then the next VAT return shows your incorrect transactions reversed and then replaced with the correct transaction. You actually see the adjustments in the backup to the VAT return.
@sarmadpiano3 жыл бұрын
Thank you so much for you generous efforts
@XUSolutions3 жыл бұрын
Always happy to help
@autordijanaferkovic3 жыл бұрын
Thank you so much for your videos, they are life saving :) I have a small question. Maybe you can help me out. It is a bit strange question. On our next VAT return we expect to have a refund. However, we would like NOT TO GET the refund back, because on VAT returns after that we expect to have a liability (and we would like to ofset the credit against the debit balance for VAT). Do you know is this possible at all? I'm sure there are not lot of people asking this but this would be something we would like to do. Is this possible? thanks in advance
@XUSolutions3 жыл бұрын
You could contact HMRC and ask - but I don't think it's possible