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Sage Instant set up as standand NOT Cash A/c

  • 30-01-2009 9:20pm
    #1
    carolinei
    Closed Accounts Posts: 118 ✭✭


    Hi all,

    Started in a company that was a bit of a mess in October, was informed by FC and Accountant it is cash a/c - Went to do the VAT return for Nov - Dec and there was something not quite right. They are set up as standard accounting and not cash accounting in Sage Instant A/C's, so here's what I did.

    Setup a spread sheet bi-monthly for all the payments made into the bank a/c. Cross referenced this with the day book Customer Reports paid invoices and bank reports payments

    Printed the customers Invoices paid, made sure the matched and then printed the purchases day book.

    Heel of hunt they have overpaid VAT by alot and the returns since the start of 2008 HAVE NOT BEEN RETURNED CORRECTLY.

    So, what do I do now ? They have already been audited and this is only been resolved recently.

    2008 has not been audited and I don't know, how to go forward from here to help the company.

    By the way the FC doesn't care about this company and accountant is an A^&hole so I am kind of stuck with no one to help me. What do I do ?

    Rgds

    Caroline


Comments

  • #2
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    To Fix Sage for Cash Accounting you will need to Reconcile all vat transactions and then goto settings - company preferences then goto Vat tab or parameters in older versions click on Irish Vat Cash Accounting.

    However is you are using a version of Sage prior to version 12 it will only have UK Vat cash accounting. If you have version 12 or greater and it doesn't say Irish Cash Accounting then you need to amend you computers Regional Settings to Ireland and then reload sage and it will then say Irish Vat Cah Accounting


  • #3
    carolinei
    Closed Accounts Posts: 118 ✭✭carolinei


    Hi Nigel,

    Thank you for your response what I mean is - in relation to the VAT for 2008, have I worked it out correctly from the information I have given.

    Rgds

    Caroline


  • #4
    Mr Clonfadda
    Registered Users, Registered Users 2 Posts: 372 ✭✭Mr Clonfadda


    Hi Caroline

    it sounds as if you have worked it out right. Once a year I reconcile all my Vat Returns and ensure they balance for the whole year. If you need to claim for a refund then just do it.

    If you still have questions you can PM me


  • #5
    Dixie Chick
    Registered Users, Registered Users 2 Posts: 1,062 ✭✭✭Dixie Chick


    My advice to you regarding working on your own as the accountant does not care and the FC neither, would be to approach the directors and let them know what the situation is. At the end of the day, what matters is that the accounts are correct and if they arent then this is the directors overall responsibility. So if no-one else cares, take it to soemone who does.

    It sounds like you have put a lot of work into gettign the correct figures as well, just be sure your work is correct

    Best of luck


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