VAT question for other CDCs

[Coley]

Hi there, I am doing my accounts as I am looking at the VAT. In the automatic spreadsheet the formula is for example: =IF(H13="y",G13*7/47,0) and if you put in your values you don't get VAT at 17.5%, it's actually way under so now all my accounts are wrong and I don't know how to do this formula with the correct values.

Any ideas? I can do it manually (0.175 x the value of the goods) to find the VAT which is how I know but I don't want to do that all the time!! HELP!!

 

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[MandyB2]

Are you earning enough to be VAT registered hun??... if not you don't need to worry about breaking down the figures...

xxx

 

[Coley]

nah....but I'm just looking at the VAT when I'm doing the accounts using the spreadsheet we get with the business pack on the CD. Cause we get some of the VAT back don't we? plus I hate it when things are wrong......grrrrrr

 

[MandyB2]

.. I don't think you will get any VAT back if your not registered hun...I've been self employed for 4 years and am not yet VAT registered... unless you are, and pay the VAT you receive to the tax man you can't claim any that you've paid back !!!
Sucks eh???.. I'm not an expert though.. so I'd check it out with IR or an accountant..

xxxx

 

[Coley]

Hrm....maybe I'm getting confused between VAT and tax.....? It's still wrong though!!!!

 

[MandyB2]

Yeh.. I know what you mean hun.... accounts are a minefield... I've not checked out the CD spreadsheet though.. I prefer to do my own....
Maybe someone else uses it and can enlighten the both of us??

xxxx

 

[DQ]

Sorry, I use my own as at present I don't earn enough to be VAT registered

 

[Isobel1965]

I think you have to earn 55K in order to be VAT registered, don't you???????

Doh - I don't 'do' sums!!!!!!!!!!!

 

[Coley]

yeah, you have to be taking in a fortune, but this is just for my own records.......and it's wwwrong!!! aaaaaargh!! Why can't Cambridge count?

 

[Isobel1965]

I bet they count better than I do - just ask my clients lol!

 

[Coley]

Have just changed the formula to =IF(H13="y",G13*0.175,0) and so the VAT works out now to what it says on my invoices....just have to change it on each months spreadsheet now......

I don't 'do' sums either, just hate it when it's wrong!! I am so bad with counting as well....you should see me trying to keep track of how many rations a client has picked....and forever asking, "how many of that one again?"

 

[Isobel1965]

Yup me too!

 

[htpink]

I keep all mine in a database - otherwise stock control would be a nightmare!!

 

[DQ]

My stock control is a basic spreadsheet - I'm teaching my girls to use it so they can help me out!

 

[Isobel1965]

Erm...stock control.....spreadsheet??? Now I'm really depressed lol!

 

[Coley]

Yeah...I just use the one that came with the business pack...been merrily doing my accounts.....until now....flippin' VAT. Have changed all my spreadsheets now...of course it makes no difference to the final amounts, I'm just a fuss pot and want my VAT to be right and not look like a dip stick when some maths whizz points it out that I hadn't calculated VAT correctly!

Hrm....who do I email at CD to get them to fix the CD's they give out?

 

[DQ]

Erm...stock control.....spreadsheet??? Now I'm really depressed lol!

Lol, it's just a list of flavours and as clients order stuff I miunus it

 

[Isobel1965]

Ah well - that's still very organised.......I kind of just use the "Force" LMTO!!

 

[DQ]

ROFPMSL!!!!

 

[Coley]

Ooooooough....so am I just being totally anal here? I do a reciept form for every client, everytime, but I keep it and number it, and put it in the funny spreadsheet thingie......thought we had to do it for self assessment tax return or something uber important?