Sometimes a VAT return is submitted that was not based on a saved VAT return in VT Transaction+.
If the transactions are in VT Transaction+
If you have submitted a VAT return in another system and the underlying transactions are in VT Transaction+ (for example, you have migrated old transactions from another accounting system), these transactions will be included in the next VAT return generated on VT Transaction+. This is because they have not been included in any previous VAT return on VT Transaction+.
To exclude these transactions from your next VAT return, create a dummy VAT return for the period covered by the old transactions, and save the return but do not submit it. Note that this step needs to be done before you create your current VAT return. If you have already created your current VAT return, this should be deleted. After saving the dummy VAT return you can then generate the current VAT return and the transactions will be excluded.
If the transactions are not in VT Transaction+
Returns may have been made based on other systems and records only maintained on VT Transaction+ at the year-end. In these cases, the actual numbers submitted can be entered on a journal. The totals on the VAT return in VT Transaction+ then represent the difference between the amounts submitted and the correct amounts per VT Transaction+. Depending on the amounts involved and the regulations in force at the time, these numbers can then be used to separately inform HMRC or allowed to roll-over into the next return.
A VAT journal can be entered by clicking on the JRN button on the toolbar. Typical entries might be as shown below.
The payments of VAT to HMRC should be analysed to the Creditors: Net VAT due account (same as a normally produced return).