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.
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