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phil-lawnscience
June 11, 2019
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Can you advise me how I put an invoice on quickbooks which is solely for 100% VAT ?My insurance has paid legal fees but they have billed me the VAT part. Thanks

  • June 11, 2019
  • 1 reply
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Best answer by TaliaI

Hello phil-lawnscience,

 

Welcome to the Community - thank you for your question!

 

To record a 100% VAT transaction:

 

1. Click on the + sign and select the transaction type that you need.

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

3. On the second line, select the same account. For the rate, enter -£1, and choose an Exempt code.

4. 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.

 

Thanks,

 

Talia

1 reply

T
TaliaIAnswer
June 11, 2019

Hello phil-lawnscience,

 

Welcome to the Community - thank you for your question!

 

To record a 100% VAT transaction:

 

1. Click on the + sign and select the transaction type that you need.

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

3. On the second line, select the same account. For the rate, enter -£1, and choose an Exempt code.

4. 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.

 

Thanks,

 

Talia

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