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July 2, 2019
Question

How do I record a VAT only payment to a supplier

  • July 2, 2019
  • 1 reply
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1 reply

July 2, 2019

Hello info318,

 

To enter a VAT only transaction:

 

1. Click on the + sign and select the transaction type that you would like to use, either expense or bill.

2. On the first line of the transaction, choose the account you would like to use. For the amount, enter £1, and select 20% S as the VAT code.

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

4. The total of the invoice will be 0. You can then edit the amount in the VAT box at the bottom of the transaction to whatever you need it to be.

 

Let us know how you get on.

 

Thanks,

 

Talia