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michelle-microma
Level 1

Hi. I have several VAT/Duty invoices that our company have paid (we import machines, so pay a lot of VAT for shipping). How do I put that into the system?

 
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Best answer March 17, 2022

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Ashleigh1
QuickBooks Team

Hi. I have several VAT/Duty invoices that our company have paid (we import machines, so pay a lot of VAT for shipping). How do I put that into the system?

Hello Michelle-microma, 

 

Welcome to the Community page, 

 

So you can create an invoice for this in Quickbooks and select which ever vat code you need and in where it says shipping on the right handside of the invoice above total, you can select the right vat code it should be for it there as well. 

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2 REPLIES 2
Ashleigh1
QuickBooks Team

Hi. I have several VAT/Duty invoices that our company have paid (we import machines, so pay a lot of VAT for shipping). How do I put that into the system?

Hello Michelle-microma, 

 

Welcome to the Community page, 

 

So you can create an invoice for this in Quickbooks and select which ever vat code you need and in where it says shipping on the right handside of the invoice above total, you can select the right vat code it should be for it there as well. 

paul72
Level 7

Hi. I have several VAT/Duty invoices that our company have paid (we import machines, so pay a lot of VAT for shipping). How do I put that into the system?

Hi @michelle-microma 

 

I think you have invoices from the shipping / customs agent which include the cost of shipping plus import VAT / Duty?

Is that correct?

 

The shipping cost - enter as any normal expense.  This is probably outside the scope of VAT but I'd usually enter as Z=0% VAT code or a specific Import=0% code just to make sure it appears on the VAT100 (NoVAT code does not).

 

Duty is the same - non-recoverable so treat as an expense or as an uplift on the cost of the machines.

 

The VAT is the tricky one.  If you've paid this to the agent, it can then be recovered on your VAT return.

There are several methods on here for creating VAT-only invoices.  Search around & choose your favourite.  My preference is to add two lines to create the Import VAT:

Line (1) an amount equal to 5xVAT (so that using S20% code gives the correct VAT)

Line (2) minus the same amount with Z=0% code, so that just the VAT remains.

 

Hope this helps.

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