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accounts5-dattan
Level 1

Why is my reverse charge purchases only shows on VAT due on sales but not in vat reclaimed on purchases?

I'm using QBO
4 REPLIES 4
paul72
Level 8

Why is my reverse charge purchases only shows on VAT due on sales but not in vat reclaimed on purchases?

Hi @accounts5-dattan 

 

You'll need to elaborate.

Which VAT code are you using?

If you're not working with standard/accrual VAT, any scheme?

Go back to the Bill/Expense entries - is the VAT showing as plus/minus on the screen?

accounts5-dattan
Level 1

Why is my reverse charge purchases only shows on VAT due on sales but not in vat reclaimed on purchases?

Hi Paul, I'm using Reverse charge Purch Standard VAT code.
accounts5-dattan
Level 1

Why is my reverse charge purchases only shows on VAT due on sales but not in vat reclaimed on purchases?

It's negative in Bills
paul72
Level 8

Why is my reverse charge purchases only shows on VAT due on sales but not in vat reclaimed on purchases?

What's the VAT code shown on the Bill input screen

There are several Reverse Charge codes @accounts5-dattan that all do subtly different things.

They should all show something like this at the bottom of the Bill input screen though...

Subtotal    £100.00
VAT @ 20% on 100.00     £20.00
VAT @ -20% on 100.00    -£20.00
Total    £100.00

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