Hi Kennels9,
Thanks for joining us here on the Community :waving_hand:
You can enter a 100% VAT bill to record and reclaim the VAT which you've paid upfront on this, simply follow the steps below to do this:
1) Click on the + sign and select Bill
2) Enter the bill details (date, payment account) and set the VAT 'Amounts are' to 'Exclusive of VAT'
3) On the first transaction line, select the account you want to use. For the rate, enter £0.01, and for the VAT code, select the 20% Standard code.
4) On the second line, select the same account as above. For the rate, enter -£0.01, and choose the Exempt VAT code.
5) Scroll to the subtotal - the total of the invoice will be 0. You can then edit the amount in the VAT box to input the amount you need - this will post to box 4 of the return.
You can enter an expense to record the monthly payments (+ New > Expense), selecting the relevant account under 'Category' - if you're using either Essential or Plus you can schedule recurring payments for this by selecting 'Enable recurring payments' on the toolbar when entering the expense.
Get back to us below if you have any Q's :hugging_face:
