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- Aug 27, 2015
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I started a new accounting program this financial year but I had outstanding client invoices on the old one - I brought them forward as an opening balance on quickbooks. Some of these invoices now need to be put down to bad debts as a company has gone bankrupt, can anyone advise how to claim the vat back as it was done on old system and will not crossover to new one.
Quickbooks advised to change the opening balance to include vat however that would mean I need to pay the vat again and once I void the invoices it would balance out but Im still not getting any vat back from original invoices that way. They then said speak to accountant.
Quickbooks advised to change the opening balance to include vat however that would mean I need to pay the vat again and once I void the invoices it would balance out but Im still not getting any vat back from original invoices that way. They then said speak to accountant.