VAT - Automatically calculate returns when switching VAT scheme
Hello,
I would like for Xero to automatically calculate the VAT returns accurately when switching from a VAT scheme to another. Currently, we need to manually adjust the returns to avoid any duplications caused by the transition. There is room for a lot of human error when doing this and I believe this feature is extremely important.
Malina Alexandrescu
shared this idea
Thanks for sharing this idea. We understand the request is for Xero to automatically calculate the VAT adjustments needed when moving between VAT schemes, without you needing to finalise the current VAT return first.
We’re moving this idea to Gaining Support 💥 so other customers can vote, comment, and share how this would help their workflow. That feedback helps our product team better understand the level of demand and the different scenarios customers need supported.
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Becky Waterfield
commented
Some better intelligent regarding a switch over from Accrual to cash so Xero can identify when invoices are raised- whether post of pre switch over. This would prevent the duplication of VAT on returns.
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Sarah Coombs
commented
I was surprised to find out Xero does not have this feature. Not only can this be a time consuming task and open for human error, but QuickBooks can do this with ease, this should be rectified as a matter of urgency!
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Tatjana Satenevskaya
commented
What kind of comment is this received from Xero Admin>? Thant doesn't resolve the issue re switching bank's view to cash!