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Experienced Member

100% vat split

I have a transaction for £1,162.67 which was paid out for vehicle repairs claimed on insurance. £650 was the excess with no vat, and I also had to pay the vat on the repair which was £512.67. How do I split a transaction to show £650 0% vat and £512.67 100% vat?

 

Thanks.

Solved
Best answer 04-24-2019

Accepted Solutions
Moderator

Re: 100% vat split

Thanks for your prompt response, jay88.

 

On the expense page, you can add £650 in the Amount column, and select 20.00% S in the Vat column. Then, enter the £512.67 in the VAT @ 20% on 650.00 field. You can refer to the screenshot below.

 

1.1.1.PNG

 

Please let me know if you have further questions. I'll get them answered for you.

4 REPLIES 4
Moderator

Re: 100% vat split

Hi there, jay88.

 

Thanks for joining the Community. Let me help record your split transaction in QuickBooks Online (QBO).

 

You can record a split transaction through an expense or cheque. Then, set the line item with VAT and the other amount with no VAT.

 

Let me show you how:

  1. Click on the Plus (+) icon.
  2. Choose either Expense or Cheque.
  3. Select a payee and the payment account
  4. In the Category column, select an account for vehicle repairs claimed on insurance and enter £650. Then, select No VAT in the VAT column. 
  5. Repeat step 4, enter £512.67, and choose a vat code. 
  6. Once you're done, click on Save and close

I've attached some screenshots below to help you with the process.

 

1.1.PNG

 

1.2.PNG

 

For further guidance, you can check out these articles: 

That should do it. Leave a message below if you need anything else. I'm always here to help.

Experienced Member

Re: 100% vat split

Hi Jane

 

The £512.67 needs to be 100% vat and I don't have the option to add that on a split transaction.

Moderator

Re: 100% vat split

Thanks for your prompt response, jay88.

 

On the expense page, you can add £650 in the Amount column, and select 20.00% S in the Vat column. Then, enter the £512.67 in the VAT @ 20% on 650.00 field. You can refer to the screenshot below.

 

1.1.1.PNG

 

Please let me know if you have further questions. I'll get them answered for you.

Experienced Member

Re: 100% vat split

Thanks, that's done it. Just started using it and didn't realise it was that simple!