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How do I record an exceptional VAT amount, which is not within the standard %, but rather a nominal amount: for example I have a VAT import from FedEx as follows: admin. Fee is £12, Duty £33.18 and the VAT amount is £275.91
I am unable to enter the VAT amount manually, can you please instruct me how to do it?
K.R, Love Hate
Solved! Go to Solution.
Hello there, K.R.
I will guide you on how to enter the VAT amount manually:
Check the screenshot as your reference.
Feel free to get back to us if you have other concerns. Have a nice day!
Hello there, K.R.
I will guide you on how to enter the VAT amount manually:
Check the screenshot as your reference.
Feel free to get back to us if you have other concerns. Have a nice day!
Thank you very much for your guidance, I managed to record it as you advised, however, can you confirm that the actual amount of VAST paid (£275.91) will appear in my VAT report as the VAT expense?
Also, I usually record invoices via : Suppliers> Bills… ; is there any reason why this is not recorded via Bills?
Looking forward to hearing from you,
Hi love hate,
I love your username.
The VAT paid (£275.91) will appear on your VAT report in box 4: VAT Reclaimed on purchases. You can check it by going to Taxes and running the return of the tax period.
About your second question, you can record your transaction as a bill instead of an expense. I think Kristine was using expense because it was mentioned on your original post.
If there's anything that we can help, just let us know. We're just around.
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