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Community > Accounting >

Batch Deposit is creating VAT misposting

Started by Will Leaning -   in Accounting

I've recently used the batch deposit function in Xero but when I've come to do my VAT return I've noticed that the postings have put the sales and VAT element into the purchase element which is messing my VAT return up.

Any ideas why this is?

Would you let us know what tax rates have been used for the transactions that are causing the problem and what does "into the purchase element" mean?

Also, and it may not be relevant, but what VAT scheme is Xero using for the VAT return?

John Knight