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love hate
Level 2

How do I record exceptional VAT amount in expenses?

How do I record an  exceptional VAT amount, which is not within the standard %, but rather a nominal amount:   for example I have a VAT import from FedEx as follows:  admin. Fee is £12, Duty £33.18 and the VAT amount is £275.91

I am unable to enter the VAT amount manually, can you please instruct me how to do it?

K.R, Love Hate

Solved
Best answer April 14, 2019

Accepted Solutions
Kristine Mae
Moderator

How do I record exceptional VAT amount in expenses?

Hello there, K.R.

 

I will guide you on how to enter the VAT amount manually:

  1. Click the Plus sign (+) icon.
  2. Choose Expenses.
  3. Fill in the necessary fields, then choose Exclusive of Tax.
  4. Choose the VAT code.
  5. Manually enter the VAT amount in the VAT field.
  6. Click Save and close.

Check the screenshot as your reference.

 

 

Feel free to get back to us if you have other concerns. Have a nice day! 

View solution in original post

3 REPLIES 3
Kristine Mae
Moderator

How do I record exceptional VAT amount in expenses?

Hello there, K.R.

 

I will guide you on how to enter the VAT amount manually:

  1. Click the Plus sign (+) icon.
  2. Choose Expenses.
  3. Fill in the necessary fields, then choose Exclusive of Tax.
  4. Choose the VAT code.
  5. Manually enter the VAT amount in the VAT field.
  6. Click Save and close.

Check the screenshot as your reference.

 

 

Feel free to get back to us if you have other concerns. Have a nice day! 

love hate
Level 2

How do I record exceptional VAT amount in expenses?

Thank you  very much for your guidance, I managed to record it as you advised, however, can you confirm that the actual amount of VAST paid (£275.91)  will appear in my VAT report as the VAT expense?    

Also, I usually record invoices via : Suppliers> Bills… ; is there any reason why this is not recorded via Bills?

Looking forward to hearing from you, 

JessT
Moderator

How do I record exceptional VAT amount in expenses?

Hi love hate,

 

I love your username.

 

The VAT paid (£275.91) will appear on your VAT report in box 4: VAT Reclaimed on purchases. You can check it by going to Taxes and running the return of the tax period.

 

 

About your second question, you can record your transaction as a bill instead of an expense. I think Kristine was using expense because it was mentioned on your original post.

 

If there's anything that we can help, just let us know. We're just around.

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