Chae1
Member
- Location
- Aberdeenshire
I have to login through app now.
Xero - tips and tricks
- Thread starter Steevo
- Start date
- Location
- Glen Clova, Angus, DD8 4RD
That's not working for me either today.
- Location
- Wiltshire
Worked ok for me, about 8am
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There is a major outage this morning
- Location
- S. Staffs
With a machine on HP you need to set up a code for it in the chart of accounts, then enter it up as in @upnortheast example above. Then when you make payments you use that code to credit the HP account.
mrs mtx
Member
- Location
- Pembrokeshire
Doing my first vat return digitally. I’ve got some transactions in May ‘that’s when they went through the bank’ but I did the invoice in April so I already put them through the last vat quarter and don’t want to pay vat on it twice.
How do I take them off this vat return without deleting them from the bank?
How do I take them off this vat return without deleting them from the bank?
- Location
- Boroughbridge, york
you would need to delete them and adjust the opening balance
Nukemall
Member
In the acc
In the accounting menu select reports, then select tax and vat return. Then click adjust next to the amount you want to change, adjust it for the difference after taking off the ones you claimed in the previous month. You can also put a reason against the adjustment.
Last edited:
mrs mtx
Member
- Location
- Pembrokeshire
I found that bit but when I go to the individual transactions do I edit by just taking away the vat? Or do I just adjust the box with the whole total difference?
Nukemall
Member
Sorry just reread your question, you don't need to go in to the individual transaction, you just adjust the totals of expenses and vat reclaimed (assuming it was on expenses). Also uncheck the create accounting transaction box.
All you are doing is correcting the vat return, and adding a reason (already caimed in previous vat return).
Hope this makes sense.
- Location
- S. Staffs
If you created them in the previous month and paid the VAT, why have you entered them again? They should just reconcile when they go through the bank account. I assume you have created your invoice in Xero? So they were automatically on the VAT return at the date of the invoice.
mrs mtx
Member
- Location
- Pembrokeshire
- Location
- S. Staffs
Ah sorry I missed that fact, apologies for any confusion caused.
mrs mtx
Member
- Location
- Pembrokeshire
Chae1
Member
- Location
- Aberdeenshire
Right, probably been mentioned on this thread already but can't find it. I'm trying to setup something for HP repayments.
I have found some stuff googling but kind of stuck now.
So I entered the invoice for the full amount of the machine. I setup a HP liability account in chart of accounts. After I entered the invoice I marked it as paid as full out of the HP liability account. So this should allow me to claim back the full VAT amount.
When it comes to reconciling what do I mark the payments too? Got a self billing invoice for the trade in and need to reconcile it. Also monthly payments for the machine coming out of the bank that I need to allocate. There will also be interest on bank loan so repayment amount will be greater than purchase price.
Also should there be VAT on my HP HP liability account?
Confused.com.
I have found some stuff googling but kind of stuck now.
So I entered the invoice for the full amount of the machine. I setup a HP liability account in chart of accounts. After I entered the invoice I marked it as paid as full out of the HP liability account. So this should allow me to claim back the full VAT amount.
When it comes to reconciling what do I mark the payments too? Got a self billing invoice for the trade in and need to reconcile it. Also monthly payments for the machine coming out of the bank that I need to allocate. There will also be interest on bank loan so repayment amount will be greater than purchase price.
Also should there be VAT on my HP HP liability account?
Confused.com.
As you reconcile the monthly payments on the dashboard you need to split the payments against the original invoice so in effect paying it down each month.
On the reconciliation page where bank payments are, select match against that payment line. Search fir the supplier, select the outstanding invoice and then select split. This allocates the monthly payment against the original invoice.
Repeat monthly until fully paid off.
I think you can create a rule to do that automatically each month.
On the reconciliation page where bank payments are, select match against that payment line. Search fir the supplier, select the outstanding invoice and then select split. This allocates the monthly payment against the original invoice.
Repeat monthly until fully paid off.
I think you can create a rule to do that automatically each month.
Chae1
Member
- Location
- Aberdeenshire
I marked the invoice as fully paid. Which it has been by the bank. This was by the HP liability account I created. So the original invoice is marked as paid and not coming up as money owed to the dealer.
I think inneed to put it against the HP liability account I created, but unsure how to do this. It doesn't come up as a debtor.
i think you need to unmark it as fully paid, the liability is still yours even with the bank paying it in full.