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Sep 30, 2021 2:52 PM UTC
Question

How do I show the purchase of a van and claim the vat back?

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1 reply

Sep 30, 2021 4:58 PM UTC

Hello Shaun20, 

 

Welcome to the Community page, 

 

If you purchase a vat, you can simply enter an expense entry with a vat on it, like 20%, automatically, the vat of that will go against the reclaim on the VAT return. 

 

or 

 

If you wish to enter a VAT only transaction, you can open up an expense 

1st line £1.00 VAT 20% (any expense category)

2nd line -£1.00 NO VAT (same expense category as the first line)

Then you have to change the VAT amount on the bottom left