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March 29, 2021
Question

How do I enter a bill which is 100% VAT?

  • March 29, 2021
  • 1 reply
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1 reply

March 29, 2021

Hello PJ18, 

 

Welcome to the Community page, 

 

So you can easily enter a VAT only transaction in to Quickbooks. In order to do this you need to click on the +new top left hand corner and select the transaction type you you need- so if you need to do a bill one then select bill. 

 

On the first transaction line, choose the account you want to use. For the rate, you would enter £1 and for the VAT code, select the 20% Standard code

 

On the second line, you would select the same account. For the rate you would enter -£1, and choose the VAT code as Exempt

 

The total of the invoice will be 0. You can then edit the amount in the VAT box to whatever you need it to be. Save and close