The Book-keepers Forum (BKF)

Post Info TOPIC: Duplicated Invoice and VAT


Member

Status: Offline
Posts: 8
Date:
Duplicated Invoice and VAT


Hi

 

I have just started working at a company and can see that they have lots of duplicated invoices on their sales ledger that were reported in their last VAT return which they do quarterly. I want to clear these off before I submit my return for the last quarter but I'm not sure what the best thing to do is.

Should I issue credit notes against them to keep the VAT element or is there something else I can do?

 



__________________


Guru

Status: Offline
Posts: 518
Date:

If they are genuinely duplicates then you should be able to delete them.



__________________

Phil Hendy, The Accountancy Mentor

Are you thinking of setting up your own practice or have you set up and need some help?

If so a mentor may be the way forward - feel free to get in touch and see how I can assist you. 

 



Senior Member

Status: Offline
Posts: 319
Date:

Wouldn't just deleting them mean they have overpaid due to the higher VAT on sales?

__________________

Matthew



Veteran Member

Status: Offline
Posts: 90
Date:

Hi,

Matt is correct. The only way is to raise credit notes and make note that these credit notes refer to duplicate entries.

Julie

__________________

 

Julie Johnson

Domino VAT Accounting Ltd



Guru

Status: Offline
Posts: 1470
Date:

It depends on whether they are on standard or cash accounting for VAT. If cash accounting then they wouldn't have paid extra VAT as the invoices haven't been paid. But whichever it is I would credit these invoices to keep a proper audit trail, and definitely credit them if they are on standard VAT accounting as they will then be able to claim back the overpaid VAT.

How come there were so many duplicate invoices?



__________________

Pauline



Newbie

Status: Offline
Posts: 1
Date:

Hi there,

I have double invoices...I was thinking that everything will be ok after credit note ,but now customer balance is in minus.What can I do?
Thanks in advance.

__________________


Senior Member

Status: Offline
Posts: 252
Date:

You've replied to a very old thread from 2015. You would possibly have been better starting your own with more info including the standard introduction. Your post does not give much info/context.

Only today a customer has flagged up that I have inssued an invoice twice (due to the engineer raising two job numbers for one job). I will simply credit the second invoice and be straight but we do not use an accounts package and the error was flagged very quickly. However if this happens after the end of a VAT quarter I follow the same process.

For the customer balance to be in minus it implies that the customer has actually paid both invoices or that it has been written off as a bad debt at some point and the VAT claimed back. If the customer has genuinly paid both invoices and one is duplicate then surely the correct and honest course of action would be to issue a refund to them or to credit it against their next purchase/service/whatever.



__________________

Julie



Master Book-keeper

Status: Offline
Posts: 8646
Date:

Agree with Julie. But you also haven't introduced yourself and we always ask newbies.

So start another thread and on it do the intro, which is:-


Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About