How Can I Adjust VAT Errors in Bullets Free Online Accounting Software?

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Q:How Can I Adjust VAT Errors in Bullets Free Online Accounting Software?

Hi, I have a bill for a total of €38.00, including VAT at 23%.  It appears that the VAT is rounded down, as the amount ex VAT is 30.90 and the VAT is €7.10. When I enter the ex VAT amount of €30.90 it calculates the total amount as €38.01. How can I adjust VAT errors?

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Peter Connor ⋅ Staff May 23, 2014
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Hi B,
It looks like they have calculated the VAT to be added wrong. The correct VAT (23% Standard Rate) on a bill of €30.90 is €7.11 making the total €38.01 as you stated. Regardless of what the bill sender has sent you, you have an obligation to pay the correct VAT, otherwise it’s VAT fraud. 
So you can just enter the bill as €30.90 (€38.01 as total), if you want you add a comment into the bill footer you can.
Hope that helps
Pete
 

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  1. bdoran May 23, 2014
    It's Aer Rianta (!) car parking and many of the receipts are like this - incorrect as you say. The problem with the correct entry is that reconciling the credit card account is then incorrect.
  2. bdoran May 23, 2014
    Duh, the answer is simple, i round down on one receipt and round up on the other!
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Peter Connor ⋅ Staff May 23, 2014
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Yea, Eircom do the same. 
There is an auto adjust in our reconciliation engine, but it’s set to the revenue limit. Your solution works good too!
Auto adjust bank reconciliation tax Bullet free online accounting software
 

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