Correcting Tax Type Allocations

SOLVED

In previous versions of Partner you could correct a misallocated tax type by entering the exact same journal/ cashbook, but with a negative value

The example below would normally have created a positive value in Tax Type 2 - Output Tax

Tax Type Date Type Account Reference Description  Exclusive 
Tax Type : 2 - Zero rated - Output Tax 07/08/20 CB 2 RECEIPTS 4362/900 D08/84 SEQOUIA NURSERY   (44,115.00)
Tax Type : 2 - Zero rated - Input Tax 07/08/20 CB 2 RECEIPTS 4362/900 D08/84 CORRECTION     44,115.00

In v18 the corrections are automatically changed to the opposite side. 

Problem now - both Output and Input VAT are incorrect.

Does anyone know of a way to correct the VAT report, so that the correct Input/ Output are shown?

Thanks

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  • 0

    Good day Kevin,

    We have not had such an issue reported before. As far as we know, the same still applies in V18 and V19. See if the report is corrected when you select Offset Credits against Sales/Purchases. If that does not correct it, please email [email protected] with the full details of the query to have it tested.

    Regards,

  • +1 in reply to Mapule
    verified answer

    Good Morning,

    As advised normally you would reverse a transaction exactly as you processed it but with a negative amount. 

    Click Here for a step by step article on how to correctly reverse incorrect transactions.

    When viewing the tax reports this should have been reversed out accordingly and selecting the option to offset should place these reversals in the correct tax grouping.

    Regrettably your situation seems to be a little more specific. Please advise if you received feedback and a resolution to your unique query.

    Kind Regards

    Joanne

Reply
  • +1 in reply to Mapule
    verified answer

    Good Morning,

    As advised normally you would reverse a transaction exactly as you processed it but with a negative amount. 

    Click Here for a step by step article on how to correctly reverse incorrect transactions.

    When viewing the tax reports this should have been reversed out accordingly and selecting the option to offset should place these reversals in the correct tax grouping.

    Regrettably your situation seems to be a little more specific. Please advise if you received feedback and a resolution to your unique query.

    Kind Regards

    Joanne

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