Can you enter a sales invoices that has deductions plus input VAT. I have tried posting as a negative on sales invoices but it shows on VAT return as negative output VAT

carters.shellfis · ‎March 18, 2019

I have livestock sales invoices that have deductions for market charges plus input VAT. When entering on sales invoice as a negative to expenses then the VAT appears on my return as negative ouput VAT. Any suggestions on how to chnage this without the need to create a contra account?

MirriamM · ‎March 18, 2019

Hi there, carters.shellfis,

Let me help share information on how to enter deductions plus input VAT in QuickBooks Online.

For input VAT, you may have to use the Bill or Expense type of transaction so this will allocate properly to Box 4, then reclaim the purchase VAT.

For proper guidance, it would be best consulting your accountant to verify what's the best way to enter deductions plus input VAT. This is to ensure that you would be able to properly account VAT.

For additional information, I'm including some helpful articles that you can check on how different VAT codes work in QuickBooks Online:

If you have any other questions concenring your QuickBooks Online account, please don't hesitate to visit us again.

View solution in original post

MirriamM · ‎March 18, 2019

Hi there, carters.shellfis,

Let me help share information on how to enter deductions plus input VAT in QuickBooks Online.

For input VAT, you may have to use the Bill or Expense type of transaction so this will allocate properly to Box 4, then reclaim the purchase VAT.

For proper guidance, it would be best consulting your accountant to verify what's the best way to enter deductions plus input VAT. This is to ensure that you would be able to properly account VAT.

For additional information, I'm including some helpful articles that you can check on how different VAT codes work in QuickBooks Online:

If you have any other questions concenring your QuickBooks Online account, please don't hesitate to visit us again.

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Can you enter a sales invoices that has deductions plus input VAT. I have tried posting as a negative on sales invoices but it shows on VAT return as negative output VAT

Can you enter a sales invoices that has deductions plus input VAT. I have tried posting as a negative on sales invoices but it shows on VAT return as negative output VAT

Can you enter a sales invoices that has deductions plus input VAT. I have tried posting as a negative on sales invoices but it shows on VAT return as negative output VAT

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