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Pam Potter
Level 1

Using VAT flat rate scheme on QBO we sold an asset originally costing more than £2000 and claimed back the VAT. How is this entered to pay over VAT on sale

 
1 REPLY 1
GeorgiaC
QuickBooks Team

Using VAT flat rate scheme on QBO we sold an asset originally costing more than £2000 and claimed back the VAT. How is this entered to pay over VAT on sale

Hello Pam Potter,

 

Thanks for joining the community. 

 

Unfortunately this query is more suited to an accountant, and as we are not trained we'd be unable to advise on how this could be recorded. 

 

We'd recommend contacting your accountant for this one, or welcome any users who are familiar with recording on the Flat Rate Scheme to comment below. Smiley Happy

 

 

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