Change an entry where the VAT entered was wrong

SUGGESTED

Hi

Can an entry be changed once bank reconciled - just to change the input VAT so that the VAT is correct?

Thanks

Dulcie

  • 0
    SUGGESTED

    Hi Dulcie, 

    Thanks for using Sage City.

    If the total value of the payment is correct you should be able to adjust the VAT rate by going into banking > click into the bank account > scroll down to activity at the bottom of the page and click into the row of the transaction you want to adjust. Here you should be able to adjust the VAT rate and save, providing the total amount doesn't change.

    If the transaction has been VAT reconciled (Included on a VAT return) you won't be able to adjust this since it has been reported to HMRC. In this scenario you would need to reverse the transaction by creating an opposite money in/out entry and enter it again with the correct VAT rate.

    Hope this helps. If this has answered your question please click More > Verify Answer.

    Kind Regards,

    Jack Middleton
    Sage Business Cloud Customer Services
    Sage UKI