Hi All,
I brought goods/samples from EU back to the UK in my hand luggage and declared the goods online. I paid for VAT but not sure how to add it to Quickbooks as there is only the VAT amount that I paid.
For other goods that were sent by courier, I entered the courier charge to 'Amount', selected '0.0% Z' which allowed me to enter the correct amount paid for VAT manually. But not sure how I should do in this case?
Hello Community Users!! Just wanted to pop in to confirm the process for creating a 100 percent VAT transaction is as follows;
1.click on the + sign and select the transaction type that you need.
2.On the first line of the transaction, 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.
5.Save the transaction
We have included the help article on this here as well. Any questions just ask.
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