I need to know how to record VAT as a nominal figure? This is relating to Sri Lanka, where we have some thing as Suspended VAT

chamani · ‎May 14, 2022

In Sri Lanka , we have Suspended VAT, where exporters were given the facility to not to include VAT on their invoices. But in the invoice, we must show what is the Suspended VAT amount. This Suspended VAT amount does not get added to the customer payable amount . At the end of each much the organisation needs to sent a report to the Department of Inland revenue on the amount of Suspened VAT for each month.

I need to know how to show the VAT amount as a Nominal figure

AbegailS_ · ‎May 14, 2022

Hi there, @chamani.

Getting your job done is my priority. Let me route you to the best available support so you'd be assisted in recording your suspended VAT.

Here’s how to reach them:

Go to the Help icon to connect to a support agent.
Enter Contact Support in the chatbox and click on the Contact Support team button.
Provide your account information and some insight about this concern.
You'll now be provided options on how to connect to our Customer Support.

If you need help with other tasks in QBO, browse this link to go to our general topics with articles.

You can always get back to me if you have questions with VAT or other concerns by leaving a comment below. I'm always here to assist. Have a great rest of the day.

chamani · ‎May 14, 2022

Thanks, Chat Customer Support is available in Monday. I will try it and get back to you if I need any further assistance.

Thanks again for the update