Sage 200 UKI Ideas Portal

Bank Payment Refunds are treated as purchases on VAT return - should be negative income

We are an Academy and have had to process lots of parent refunds for cancelled school trips. We are also VAT registered and partially exempt. The refunds are processed as VATable payments with an outside the scope VAT code in order for them to be captured within our VAT analysis. This is required for our partial exemption calculation. However these transactions appear as purchases rather than negative income which means that we have to manually adjust for these before doing our partial exemption calculations. Could something be added to allow us to identify these as refunds (i.e. negative income within our VAT analysis)?

  • Guest
  • Aug 11 2020
  • Idea Accepted - Gauging Support