tigercat
28-04-06, 20:40
hi have posted this on the students forum but thought perhaps since it is for my end year i might get better help/advice on here. i am a member and passed last june, only do my own business day to day accounts so come to year end and have hit a mental block, ready for this long weekend :lol:
can anyone help, please :roll:
to work out end year vat debtor for bal sheet:
get diff figures with each method i use and am just in such a block now i give in!!
do i do like a mini vat return and work out input/output and what the debtor would be ( yep said debtor as vat owes me )
or do as follows
open debtor (closing debtor figure from last year) debit
vat on sales thru year ( taken from cashbook totals) credit
vat on purch thru year ( taken from cashbook)
debit
vat reclaimed through year credit
vat on creditors ( vat from creditors that owe at end year) credit
vat on opening creditors ( i assume the figure to use
here is the one from creditors from last year? ) debit
closing debtor ( this should be the balancing figure??) debit
sory cant line figures up (tried) so just put debit and credit,
if i do this i get a lot lower amount!!
please help this block.
thank you
have a good bank holiday!!
can anyone help, please :roll:
to work out end year vat debtor for bal sheet:
get diff figures with each method i use and am just in such a block now i give in!!
do i do like a mini vat return and work out input/output and what the debtor would be ( yep said debtor as vat owes me )
or do as follows
open debtor (closing debtor figure from last year) debit
vat on sales thru year ( taken from cashbook totals) credit
vat on purch thru year ( taken from cashbook)
debit
vat reclaimed through year credit
vat on creditors ( vat from creditors that owe at end year) credit
vat on opening creditors ( i assume the figure to use
here is the one from creditors from last year? ) debit
closing debtor ( this should be the balancing figure??) debit
sory cant line figures up (tried) so just put debit and credit,
if i do this i get a lot lower amount!!
please help this block.
thank you
have a good bank holiday!!