Correct transactions included on a VAT return

You cannot edit or delete a transaction once it has been included on VAT return and sent to Revenue.

If you've made a mistake and need to change something after you have submitted the VAT return, you must reverse the transaction and re-enter it with the updated details.

For Draft returns, when you haven't yet submitted the VAT return, delete the VAT return first and then amend or delete the transaction.

How this works

Once a transaction has been included on a VAT return, you cannot delete or edit it.

Having an incorrect transaction can mean that

  • Your bank account balance is not correct.

  • The balance of your customer supplier account is not correct

  • Your VAT return is not correct and you may overpay or underpay VAT.

To make the necessary adjustments, you must

  1. Create a reverse or opposite transaction. This effectively cancels out the value of the incorrect transaction.

  2. Re-enter the transaction with the correct details, if required.

Which transaction do I use?

  • Reverse an Other Payment with an Other Receipt .
  • Reverse an an Other Receipt with an Other Payment.
  • Reverse a Payment on Account with a Refund.
  • Reverse a Refund with Payment on Account.
  • Reverse a bank transfer with the another opposite bank transfer.

Reverse an other payment or an other receipt

To help reduce errors, we set up receipts and payments so that you only

  • Select sales ledger accounts on other receipts.

  • Select expense ledger accounts on other payments.

To allow you to record a refund, we have set up a special refund option that allows you to

  • Create an Other Receipt for an expense.

  • Create a an Other Payment transaction for a sale.

Use this refund option to reverse an Other Payment or an Other Receipt .

Use a refund to reverse an other payment

  1. From Banking, choose the relevant bank account.
  2. Select New, then Sale / Receipt.
  3. Choose Other Receipt tab, then the Enter a refund for a purchase link.
  4. Enter the details of the transaction you want to reverse.

Use a refund to reverse an other receipt

  1. From Banking, choose the relevant bank account.
  2. Select New, then Purchase / Payment.
  3. Choose Other Payment tab, then the Enter a refund for a sale link.
  4. Enter the details of the transaction you want to reverse.

If the Payment or Receipt has been used to pay an to a customer or supplier invoice or has been included on a VAT return, then you must raise a credit note and issue a refund. For more information, refer to the following help articles:

Reverse a payment on account

  1. Create a refund with the same details as the original payment.
  2. Allocate the refund to the payment on account.
  3. Create a new payment with the correct details. If the payment on account was entered in error, no further action is necessary.

Reverse a payment allocated to an invoice

  1. Unallocate the payment and the invoice. The payment then becomes a payment on account.
  2. Create a refund for with same details as the payment.
  3. Allocate the refund to the payment on account.

The invoice is now outstanding and, if necessary, you can record a new payment against it with the correct details.

Reverse a refund

If a payment on account has been refunded in error, simply create a new payment on account with the same details as the original transaction.

If the refund has been incorrectly matched to a credit note, and the credit note should remain outstanding,

  1. Create an invoice with the same details as the credit note
  2. Create a receipt and use it to pay the invoice. The invoice cancels the effect of the credit note and the receipt cancels the refund. You can then create a new credit note with the same details as the original and this remains outstanding until you need to refund it or allocate it to an invoice.

This ensures that your customer and bank accounts are correct and the receipt is included on your next VAT return which corrects your overall VAT liability.

Reverse a bank transfer

Here you simply enter the transfer in reverse. This cancels out the original transfer. You'll still see both transfers in your bank reconciliation and Activity list.

  1. Go to Banking, then select New, and Bank Transfer.
  2. Enter details of the transfer. You must enter

    • Paid from Bank Account - the bank money was originally transferred to

    • Paid into Bank Account - the bank the money was originally transferred from.

    • Date Transferred

    • Amount Transferred

  3. Click Save.