VAT Backdating Required

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Tourist
14 0 1

We have reached a threshold with our charity which we have needed to register for VAT.  We hit the threshold a little further back so in order to complete our return correctly I need to backdate our VAT.

 

If I turn VAT on for all the products which require this - will Shopify report VAT for historical sales?  If not, how do we work out this cost?

 

I tried it with one item but it didn't show any overall transactions of that item with VAT on them. 

Please can someone explain how I can do this?

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Tourist
3 1 0

Hi, I'd generally suggest fixing any backdating issue manually - eg download orders into a spreadsheet and work out from that, ie if UK Vat take the gross order values for the period after hitting the threshold and then work out as 20/120 of the value for the vatable products.

 

And then set your live systems correctly going forward from a set date. Not sure how shopify reports would be affected, one would think they shouldn't change retrospectively, it would be a good idea to test it with something sold before and after the change to check.

Regards, rocketaccounts.com

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