Adjust the VAT amount on paid transactions

If a paid invoice, bill or credit note has an incorrect VAT amount, there are 4 ways to resolve this. Changing the tax amount on a paid invoice, bill or credit note can have tax implications for you and your customer or supplier. Consult with your accountant or bookkeeper to make sure you use the right method for your organisation.

Delete the payment, edit the transaction, then reapply the payment

  1. Remove the payment using Remove & Redo.
  2. Edit the VAT.
  3. Make a new invoice or bill payment, or cash refund on a credit note.
  4. For invoices and sales credit notes, you may need to reissue the invoice or credit note to your customer.

Remove the payment, void and copy the original transaction, then re-enter it correctly

  1. Remove the payment using Remove & Redo.
  2. Void the invoice, bill, or credit note.
  3. Create a copy of the invoice, bill, or credit note.
  4. Complete your new invoice, bill or credit note. You can edit any of the fields.
  5. For invoices and sales credit notes, issue the new invoice or credit note to your customer.

Use Find & Recode (Advisers only)

If you're an Adviser, you can edit transactions using Find & Recode.

Create a manual journal adjustment

If you need to adjust multiple transactions it may be easier to do it using a manual journal.

Talk to your accountant or bookkeeper before creating a manual journal adjustment.