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Jan 22, 2020 3:10 PM UTC
Question

How do I process an invoice from a Freight company for VAT on Imported goods (outside of EU) ? QB does not allow the value to be entered in VAT Control account

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1 reply

Jan 22, 2020 3:59 PM UTC


Hi tonyworthington

 

You should create a 100% VAT expense. Within the expense enter the Payee, the bank account that the payment was made from, the date the payment was debited from your account, in the category  section on line one enter an expense account, i.e purchases in the amount column enter 0.01, in the Amounts are field select Exclusive of VAT, enter 20%S in the VAT column. In line two enter the same expense account as in line one in the amount column enter -0.01 and enter Exempt in the VAT column, you will now be able to enter the VAT amount in the VAT field.