Forum

topBanner
First Previous - Page 1 of 1 - Next Last

QuickBooks VAT Return query

  • Member
  • Practice Licence
  • 46 posts
  • # 114032

Hi all,

I'm using QuickBooks for a charity that is allowed to fully claim the VAT back on their direct expenses but the VAT Inspector has ruled that they can only claim 50% of their overheads such as admin etc.

I am currently recording all the applicable overheads onto a spreadsheet to record the VAT adjustments, manually over-riding the QuickBooks calculations and then creating a journal to post the unclaimable 50% back to the relevent suppliers.

If anyone knows of a quicker or better method I would really appreciate any ideas.
tedius
  • Fellow PM.Dip
  • Practice Licence
  • 150 posts
  • # 114033

> Hello,
>

Couldn't you just create two line items, each for 50% for the expense. One
with 20% VAT and the other with no VAT?

Hope that helps
Torben

>
>
>
  • Member
  • Practice Licence
  • 46 posts
  • # 114034

Thanks Torben,

I can be prone to finding the hard way.. Smile

That sounds like a good solution!

I'll give that a try.
First Previous - Page 1 of 1 - Next Last
bottomBanner
loading