Adjust import VAT to match your Postponed Import VAT Statement

Solution Properties

Solution ID:

260623143950037

Last Modified Date:

Wed Jun 24 09:42:47 UTC 2026

Taxonomy Path:

Case category//How do I...//processing

Author:

[email protected]

Adjust import VAT to match your Postponed Import VAT Statement

Description

Once you receive your Monthly Postponed Import VAT Statement from HMRC, check that the import VAT recorded matches the amount shown on the statement.

Use the Overseas Purchase of Goods report to reconcile your VAT Return. The report includes EU and rest of world (ROW) purchases and identifies transactions that use estimated VAT.

If the amount recorded in Sage Accounting differs from the amount on your statement, record a journal to adjust the VAT.

Cause

Resolution

In this example, the estimated VAT is £4,000, but the statement shows £3,998. Record a VAT adjustment journal for the £2 difference:

From Adjustments, select Journals,
Select New Journal and enter the details.
Add the amount of the adjustment on two lines.
One is to reduce the VAT, record VAT on sales as a Debit and VAT on purchases as a Credit.
One is to increase VAT, record VAT on sales as a Credit and VAT on purchases as a Debit.
Select Include on VAT Return on both journal lines.

Ledger Account	Incl in VAT Return	Debit	Credit
2200 VAT on Sales	Yes	2
2201 VAT on purchases	Yes		2

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