Depending on whether our purchases are more than 2% of quarterly turnover, our Flat Rate is sometimes 12% and sometimes 16.5%. Is there any way of dealing with this other than to change the VAT settings each time?
Thanks
I have done a manual VAT adjustment on my VAT return which relates to a VAT only customer credit note that wasn't picked up on a previous VAT return.
This adjustment has been coded to the default nominal code for Manual Adjustments code 2204. Can I…
I am trying to change from Standard VAT accounting to cash accounting. I have reconciled everything there are no outstanding unreconciled items on my VAT return but when I try to change the VAT scheme in company preferences its telling me I cannot change…
Most businesses are now eligible to join HMRC's Making Tax Digital (MTD) open pilot. If you use Sage 50 Accounts and you haven't signed up for MTD yet, our MTD checklist can help you make the switch.
View Sage 50cloud Accounts MTD checklist >
Hello everybody,
I was hoping to get some clarity on SAGE's MTD functionality. I am on subscription software so am told its MTD compliant, however I run SAGE on EUR base currency.
I have asked SAGE in the past about this and was told that the current…
When will we be able to enable MTD on Sage? I was hoping to submit 2018 Q4 via MTD as a practice run before it becomes mandatory, but it seems you have to join a 'closed pilot' in order to do this.
Hi. We have received notification from HMRC to that we can join the MTD pilot scheme. However, we have a few EC transactions (eg monthly Microsoft subscriptions) which are invoiced (in sterling) from EC (Dublin). No VAT is paid. We are running Sage 50cloud…
My next VAT Return will be for the q/e 28/2/19. The article at ask.sage.co.uk/.../std_adp.php is about VAT settings in Sage Accounts. It refers to a check box to "Enable making tax digital for VAT submissions" and it says "If you're using Sage 50cloud…
The impact of Making Tax Digital (MTD) will vary from businesses to business. If you have Sage 50cloud Accounts already and you normally submit your VAT Returns direct from your software, then very little will change. Alternatively, if you currently submit…
I have the problem noted in article 28765, ' VAT Return Too Old: Invalid Period – You cannot submit a return over 12 months old' when trying to submit our VAT return as we use the annual accounting scheme. For the past few years this has been no real…
Many small businesses create a financial forecast as part of their initial business plan. But is it part of your regular financial management? Forecasting may seem like an unnecessary chore but, says Peter Bartram, it’s essential if you want your business…
With 50% of small businesses worried about VAT, we offer a straightforward guide to everything you need to know – and how to manage it in your software.
Why VAT is important to your business
Getting your VAT right is vital, from knowing when to…
Robin Moore has worked at Sage for more than 10 years, starting off as a business manager and now working as product manager for the accounts category for start-up and small business. Here he shares his views on the software, how new features get developed…
This webinar demonstrates how to run and reconcile your VAT Return and explains:
Why you need to reconcile
Preparation steps
Calculating the VAT Return
Analysing and printing your return
How to post manual adjustments
Reconciling
The VAT…
Sage 50 Accounts has a host of built-in features to save you time – but do you have time to look for them? This article gives you the lowdown on some of the great functions that are in the software but you might have missed. The only decision you need…
April is coming and it’s time to get your business ready for year end. We offer some top tips on how to get everything in order and make the process as simple as possible.
Issue and chase any invoices
While it’s always good practice to issue invoices…
We all love processes that are slick, simple and ‘just work’. Manually submitting your VAT Return figures online isn’t difficult but there is an easier way. Use your software!
Don’t be put off thinking it’ll be difficult to set up or complicated to…
Submitting your VAT Return online from Sage 50 Accounts is easier than you think.
If you currently submit your return by logging in to the Government Gateway and manually entering the values, you can save time by submitting it through Sage 50 Accounts…
This is happening with a couple of products of different costs. If I create a product with a gross price of say £39.99, I have to enter the net price but net of £39.99 is £33.325 and Sage rounds this up to £33.33 net, £40.00 gross. I can't get it to be…
The new VAT area in our Help Centre is packed with information to help keep you on track. Whether you're setting up your tax codes, calculating your first VAT Return or trading abroad, we've got it covered.
Have a look today and bookmark it so it's…
I am trying to send an online VAT return and it has failed the HMRC data check. I have an error code 8507.
I have looked up what this error code covers and I do not see any problems with the details I have entered.
We have never had problems running…
For 2 months now I've been unable to submit my VAT return via Sage electronically. When I click "submit online" nothing happens! No error message, just *nothing*.... I've checked all my VAT settings and checked my ID and password and they are all fine…
I have a load of orders which have some orders which have been entered with the wrong VAT codes. I need to change them on each line item, and it takes ages. Can I change them globally or will I have to amend each line?!
Hello,
We run cash accounting VAT. We receive payments on account from the government. We do not know when the payment is received what the exact VAT on our invoices will be.
An example is the following
1/1/18 POA received for £120.00. At this point…
I have just started using Sage50. I am doing a VAT return and entered the purchase invoices using a batch invoice entry and all went well. I then tried to do the same with the sales invoices for the corresponding period, and while they all appeared on…
