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We have purchased an iPhone from Apple with interest-free credit/finance provided by Barlcays Finance over 2 years. How do I correctly record the invoice from Apple to reclaim the VAT and record the repayment of the finance?
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Hi @EmmaY
No need to overcomplicate this.
Record the Bill in QBO as normal.
Reclaim the VAT in full.
Record each payment as a Bill Payment paying down the balance until you get to £zero.
Hope this helps.
Hi EmmaY, thanks for your post - we would recommend reaching out to your bookkeeper or account for support in recording interest-free finance. If you don't already have an accountant/bookkeeper, you can find a QuickBooks Certified ProAdvisor near you on our online directory.
Hi @EmmaY
No need to overcomplicate this.
Record the Bill in QBO as normal.
Reclaim the VAT in full.
Record each payment as a Bill Payment paying down the balance until you get to £zero.
Hope this helps.
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