Correct transactions included on a tax return in Sage Accounting Start

How this works

How to correct the transaction

1. Create a reverse transaction to cancel the incorrect entry.
2. Re‑enter the transaction with the correct details, if required.

Use the opposite transaction type:

• Reverse Money Out with Money In
• Reverse Money In with Money Out

Reverse a transaction using a refund

Use a refund when reversing a Money In or Money Out transaction.

1. From Banking, select the relevant bank account.
2. Select New, then choose:

Money Out, then Enter a refund for a purchase, or

Money In, then Enter a refund for a sale

Enter the transaction details to reverse the original entry.

Can’t find a ledger account?

1. From Settings, select Business Settings, then Chart of accounts.
2. Open the ledger account.
3. Under Visibility, select Money Out or Money In.

If the transaction involves an invoice included on a tax return, raise a credit note and then issue a refund.

Reverse a refund

1. Create an invoice using the same details as the credit note.
2. Create a receipt and apply it to the invoice to cancel the credit note and refund.
3. Create a new credit note with the original details and keep it outstanding.

Reverse a bank transfer

See the article How to reverse a bank transfer. Both transfers remain visible for reconciliation.

Can I Edit a Tax Return?

Record a refund to a customer

Record a refund from a vendor

How to create a credit note