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How do you add a 100% VAT invoice to your VAT return/Expenses?

We have received a duty and VAT invoice for £700 on goods imported from China and would like to know how to record this on Quickbooks.

The invoice was paid to DHL in a separate transaction to the goods supplier.

Is there a special tax code etc?

Any help is much appreciated!

Many thanks Smiley Happy

Best answer 2 weeks ago

Accepted Solutions
QuickBooks Team

Thanks for visiting us today, tetradrones. I'm delighted...

Thanks for visiting us today, tetradrones.

I'm delighted to help you add a 100% VAT invoice to your VAT return/Expenses.

You will enter an amount (0.01) in two line items. The other one should be negative to offset the amount. You will add a tax code on the first 0.01. The negative amount should be set up as No VAT.

Once done, manually enter the VAT amount in sales tax field.

Let's make sure to enter all details before manually entering the sales tax.

I have attached a screenshot for your guidance.

Let me know if you have any other concerns. I'm here anytime you need assistance with QuickBooks Online.

7 REPLIES 7
QuickBooks Team

Thanks for visiting us today, tetradrones. I'm delighted...

Thanks for visiting us today, tetradrones.

I'm delighted to help you add a 100% VAT invoice to your VAT return/Expenses.

You will enter an amount (0.01) in two line items. The other one should be negative to offset the amount. You will add a tax code on the first 0.01. The negative amount should be set up as No VAT.

Once done, manually enter the VAT amount in sales tax field.

Let's make sure to enter all details before manually entering the sales tax.

I have attached a screenshot for your guidance.

Let me know if you have any other concerns. I'm here anytime you need assistance with QuickBooks Online.

Not applicable

Is there a way for this to be done for expenses? It alway...

Is there a way for this to be done for expenses? It always seems slightly out.
QuickBooks Team

Hello contact, Yes, you can do this for your expenses. Y...

Hello contact,

Yes, you can do this for your expenses. You'll just have to create an expense transaction.

Here's how:

1. Click on the Plus sign (+) icon.
2. Choose Expense.
3. Enter the same amounts on the top (0.01).  The other one should be negative to offset the amount. You will add a tax code on the first 0.01. The negative amount should be set up as No VAT.
4. Click Save and close.

Let me know how it goes. I'll be right here to help.
Active Member

I've tried this but I can't edit the VAT amount at the bo...

I've tried this but I can't edit the VAT amount at the bottom (as you've shown). I'm using QB online.
Established Member

If I try to do it this way, the moment I enter the VAT it...

If I try to do it this way, the moment I enter the VAT it updates the second field to the VAT amount too. If I look on my VAT report it is showing both amounts. Do you have another way to do this kind of transaction?
Experienced Member

Whenever I update the VAT box the number on the S 20% lin...

Whenever I update the VAT box the number on the S 20% line updates automatically. How do I stop this happening?
Experienced Member

I have used this system, thanks. But could you not also j...

I have used this system, thanks. But could you not also just create a  new VAT category called Import VAT and have it as a 100% rate? Or would this not work?