Hello

Just a quick question.

Have just finished trading and while I was was training, did all my own VAT 
returns on Sage. Now that I have ceased trading, just tying up a few loose 
ends, sent my sage records onto disc for the accountants to do my VAT for 
me. They have sent Disc back saying that VAT has been done, how ever need to 
post VAT figures onto Sage. I have been posting entries on my PC while they 
have had the disc. Is it a case of just posting Input/Output amounts to the 
nominals? The transactions on my computer won't have been reconciled with 
the VAT flag as this was done at the accounts using the disc!

Don't want to overwrite any postings that I have made to Sage either!


Malcolm.

On 9 May, 14:14, "Malcolm"  wrote:
> Hello
>
> Just a quick question.
>
> Have just finished trading and while I was was training, did all my own VAT
> returns on Sage. Now that I have ceased trading, just tying up a few loose
> ends, sent my sage records onto disc for the accountants to do my VAT for
> me. They have sent Disc back saying that VAT has been done, how ever need to
> post VAT figures onto Sage. I have been posting entries on my PC while they
> have had the disc. Is it a case of just posting Input/Output amounts to the
> nominals? The transactions on my computer won't have been reconciled with
> the VAT flag as this was done at the accounts using the disc!
>
> Don't want to overwrite any postings that I have made to Sage either!
>
> Malcolm.


The most sensible way to deal with a closedown like this is to keep
the current year open and post everything down (as near as possible)
to zero - the theory being:

1) You ceased trading on DD/MM/YY so whatever happened after that date
belongs in the P&L ending on that date.
2) If the P&L cannot change after DD/MM/YY then niether can the
Balance Sheet - except to move balances around.

I can't help you with Sage but "You didn't want to do it like that..."

On 9 May, 14:14, "Malcolm"  wrote:
> Hello
>
> Just a quick question.
>
> Have just finished trading and while I was was training, did all my own VAT
> returns on Sage. Now that I have ceased trading, just tying up a few loose
> ends, sent my sage records onto disc for the accountants to do my VAT for
> me. They have sent Disc back saying that VAT has been done, how ever need to
> post VAT figures onto Sage. I have been posting entries on my PC while they
> have had the disc. Is it a case of just posting Input/Output amounts to the
> nominals? The transactions on my computer won't have been reconciled with
> the VAT flag as this was done at the accounts using the disc!
>
> Don't want to overwrite any postings that I have made to Sage either!
>
> Malcolm.

You didn't use the accountant link so your accountant can work on the
data at the same time?

If you didn't and you want to use what your accountant did you will
have to restore his data and make your entries again.

You should be asking your accountant what he's done if you want to
repeat what he's done. Anybody else would just be guessing.