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A
Al-SF
October 18, 2024
Question

VAT - out of scope elements of an invoice

  • October 18, 2024
  • 1 reply
  • 0 views

Hi,  I am asking for help with a VAT 'discrepancy' in the ledgers/entries for the company's mobile phone bills. 

 

The bills from Vodafone show an element which is 'out of scope' for VAT - it is a slightly different amount each month.  They therefore apply VAT to only a proportion of the invoice.

However, in QB when VAT at 20% is applied, it obviously assumes this is from the entire bill total; so the VAT accounted for in QB is higher than that charged by Vodafone.

 

Is there a way of changing the VAT amount (not rate) in the ledger?  If I change it in the VAT box on the right, it changes the sub-total and the total of the invoice being added, not the figure in the line next to the box, saying "includes VAT @ 20% on 105.17".

Many thanks in advance.  

1 reply

G
GeorgiaC
October 18, 2024

Hello and welcome to the Community, Al-SF

 

It's always best to make sure that your transactions in QuickBooks reflect those in real life. It may be that the bill/invoice requires splitting over multiple lines on the transaction so that different VAT codes can be applied. 

 

VAT-only transactions can be entered in QuickBooks; however, this is used in circumstances where you have received a 100% VAT bill from a supplier. 

 

If you are unsure, we'd recommend checking over with your accountant or tax advisor, to ensure that your records remain accurate. If you don't already have an accountant, you can find a QuickBooks certified advisor near you on our online directory. 

 

Thanks for reaching Intuit support. We'll be here if you have further questions or require additional assistance. 

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