Accounting Ideas

Discount VAT returns and Non VAT related transactions as Future dated transactions that would prevent a VAT return scheme change

Common customer issue is that they run a non-MTD mop up return to reconcile entries and allow scheme change.

Often they run the return to a future date (sometimes way in the future) and this Journal that posts as a result prevents scheme change until that date.

Discounting this transaction type would remove a massive blocker to some customers who find themselves in this situation.

Fixing these currently requires notable Dev work

  • Guest
  • Jan 6 2021
  • One For The Future
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  • Admin
    Adrian Malpass commented
    6 Jan, 2021 01:29pm

    Previously identified enhancements also for consideration: .

    • Allow users to Delete a Bank Reconciled transaction, user will be informed that the bank reconciliation will be impacted.

    • Next Bank Rec after deletion will have opening balance reduced by the deleted transaction

    • New transaction entered after switching scheme will appear for reconciliation

    • Closing balance will be correct when new transaction reconciled

    • Switching from one scheme to another - Ignore future dated transactions where the transaction is “No VAT”.

    • Moving from Not Registered to any VAT scheme - do not block if future dated transactions exist, the user can edit these transactions and add a VAT rate if required.

  • Guest commented
    6 Jan, 2021 12:19pm

    Currently if a customer runs this final VAT return to a future date they cannot change scheme until that date has passed.

    So they have to stop processing entirely until that time.

    One customer today has to wait until the end of Jan to change.

    One from last month has to have Dev work to fix due to running until 2025.