How do you register a vat bill for import vat duty? DHL bill me but its not 20% of the bill. Its 20% of Statiscal value. I already registered the actucal value in QB
Is the bill purely VAT? If it is you can enter a 100% VAT Expense.
Select New+ > Expense > In the payee field enter DHL > in the payment account enter the bank account the amount was debited from and the corresponding date in the date field > on line one, in the category column select/enter purchases > in the 'amounts are' field select Exclusive of Tax > in the amount column enter 0.01 > in the VAT column select 20%S > on line two enter/select purchases in the category column > in the amount column enter -0.01 > in the VAT column enter/select Exempt > you will now be able to enter the full amount of VAT in the VAT box, in between the subtotal and total fields in the bottom right hand corner, save and close.