Editing invoices after VAT return

makus

Hi All, any advice would be greatly appreciated. Background: I am a sole trader since September 2016 and (trying to) manage my own tax and invoicing affairs using a basic Sage package. I submitted my first VAT return the other day, and included invoices that I have issued but have not yet been paid for. I know now that I can elect to only submit once I have been paid but didn't know at the time. In any case, the client that has not yet paid me has since sent me a PO to put on those invoices in order to receive payment. The problem is that Sage won't let me edit invoices that have been VAT reconciled and I presume I won't be able to duplicate or reissue new invoices as that would mess up my tax records.
thanks in advance to anyone with any advice as to what to do. (

jimmii

I would just tell them you can't change the invoice now but that you will put a PO number on invoices in the future as long as they send one. I guess you could send a new invoice with the PO on and then issue a credit note against that invoice would that work?

Have you notified Revenue that you are switching to cash accounting basis I seem to remember having to do that back in the day.

In my experience Revenue are pretty understanding so long as your fillings are accurate so don't worry about it too much just be sure to keep notes if you have to do anything that's going to make the numbers trickier to interpret.

pilly

You could do 2 things. Reprint the invoices and just write the P.O. numbers in them, that might do the company. Or you could do credit notes first and then new invoices. This would have no effect on your VAT.

makus

thanks so much for those responses, I really appreciate it, I may go down the credit note route, or else, duplicate the invoice in a Word document. Either way, I need an accountant /
thanks again

pilly

makus wrote: »

thanks so much for those responses, I really appreciate it, I may go down the credit note route, or else, duplicate the invoice in a Word document. Either way, I need an accountant /
thanks again

You don't need an accountant if it's only a small business. Get yourself a book-keeper for a couple of times a week.

PARlance

makus wrote: »

thanks so much for those responses, I really appreciate it, I may go down the credit note route, or else, duplicate the invoice in a Word document. Either way, I need an accountant /
thanks again

Credit note is and re-issuing a new invoice is the way to go. Too much messing any other way (I've dealt with such messes).

I would suggest placing a note somewhere on the new invoice stating "reissue of invoice XYZ dated x/x/xx due to late receipt of PO, Credit Note 123 issued"... you don't want Larry in accounts adding another 60,90,120 payment days from the new invoice date. It may or may not work to get you paid sooner, but every little helps.