When you reconcile your VAT Return in your software, all transactions that were included in that VAT Return are flagged as VAT reconciled.
If you later need to check if a transaction has been VAT reconciled, for example, for audit purposes or error…
To help make sure your accounts are accurate, you can use the Accounts audit option in Sage 50 Accounts to quickly check for sales and purchases posted with a non-standard tax code which may be incorrect. Useful to run before calculating your VAT Return…
Hi All
I have identified an issue with allocation of Purchase Payment on Account (PP) to a Purchase invoice (PI) in a Cash Accounting environment.
Scenario;
Payment is posted (before the Invoice) as Payment on Account with Tax Code T1
Sage calculates…
Getting into a regular rhythm of recording and checking your organisation's transactions in your Sage 50cloud Accounts software will help you to keep on top of finances and stay informed about how you're performing.
Read more >
If you're VAT registered, it's important to apply the correct tax rates, in Sage Accounts, the rates are applied based on the tax codes you choose for any transaction. The following overview article outlines some common goods and services an the tax rates…
We are about to make our 1st MTD VAT submission and i have been transferring months worth of hand written ledgers on to sage. Edited a few bank receipts today using the steps from the transactions menu and ran a tax analysis report which seems to show…
To help your Making Tax Digital submission run smoothly, we've compiled a short list of articles that address the issues Sage customers have reported.
https://ask.sage.co.uk/scripts/ask.cfg/php.exe/enduser/std_adp.php?p_faqid=45137
