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The Book-keepers Forum -> General Book-keeping & Accounting -> Receipts in Box 6 of VAT Return
Post Info TOPIC: Receipts in Box 6 of VAT Return
chrb8


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Posts: 16
Date:
Receipts in Box 6 of VAT Return
 

Hi,

I would appreciate some advice on a point which has confused me each time it crops up in my accounting, relating to Box 6 on the VAT return.

Box 6 is for 'total value of sales', but Sage includes here direct receipts to the bank account in addition to my actual sales posted to the 'sales' nominal code. This means that every now and again when we get a refund - eg. from a utility company - which I post as a bank receipt, it appears in Box 6.

My question is - should I make an adjustment on my VAT return to remove such receipts because they are not actually sales? I can understand why Sage picks them up, but I'm never sure if they should be there or not...



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MarkS


Guru

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Posts: 986
Date:
 

If material i would adjust

If not would just leave as is and note that includes an effectively purchase refund.

Regards

 

MarkS



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www.stewartaccountingservices.co.uk

Providing bookkeeping, accounting and taxation services to small and medium sized businesses.

chrb8


Member

Status: Offline
Posts: 16
Date:
 

The current examples I have are for refunds from BT for telephone services... What would you do with these?


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MarkS


Guru

Status: Offline
Posts: 986
Date:
 

If immaterial would just leave and note on the detailed report as to what they are and why not adjusted should you have any inspection future.



__________________

www.stewartaccountingservices.co.uk

Providing bookkeeping, accounting and taxation services to small and medium sized businesses.
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