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October 14, 2019
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How do i enter a VAT only purhcase invoice on QB with zero nett amount? The nett value is being paid bu a voucher scheme, the VAT is payable by me.

  • October 14, 2019
  • 1 reply
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Original commenter did not share additional details
Best answer by GeorgiaC

Hi e-jeffs,

 

 

You can enter the VAT element of the purchase using a 100% VAT bill following the steps below:

 

 

1) Click on the + sign and select Bill

 

2) Enter the bill details (date, payment account) and set the VAT 'Amounts are' to 'Exclusive of VAT'

 

3) On the first transaction line, choose the account you want to use. For the rate, enter £0.01, and for the VAT code, select the 20% Standard code.

 

4) On the second line, select the same account. For the rate, enter -£0.01, and choose the Exempt VAT code.

 

5) Scroll to the subtotal - the total of the invoice will be 0. You can then edit the amount in the VAT box to input the amount you need - this will post to box 4 of the return.

 

 

Thanks

1 reply

GeorgiaCAnswer
October 14, 2019

Hi e-jeffs,

 

 

You can enter the VAT element of the purchase using a 100% VAT bill following the steps below:

 

 

1) Click on the + sign and select Bill

 

2) Enter the bill details (date, payment account) and set the VAT 'Amounts are' to 'Exclusive of VAT'

 

3) On the first transaction line, choose the account you want to use. For the rate, enter £0.01, and for the VAT code, select the 20% Standard code.

 

4) On the second line, select the same account. For the rate, enter -£0.01, and choose the Exempt VAT code.

 

5) Scroll to the subtotal - the total of the invoice will be 0. You can then edit the amount in the VAT box to input the amount you need - this will post to box 4 of the return.

 

 

Thanks

e-jeffsAuthor
October 14, 2019

Hi GeorgiaC,

Thank you for your answer.  I am unable to type in the VAT part of the subtotal section. Any ideas?

October 14, 2019

Hi e-jeffs,

 

 

Are you able to clear the cache on the browser or sign-in via an incognito/private browsing window then attempt to edit the bill 

 

 

Thanks