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!
Solved! Go to Solution.
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.