My England-based company is working on a short term contract in Jersey. We have had to register for GST - (Goods and Services Tax - the local Jersey equivalent to VAT).
My query relates to posting purchases (made in Jersey) and sales relating to this contract, in Sage Line 50.
I have set up a nominal code in the balance sheet for GST, and will use this to compile my Jersey GST returns.
Each transaction I post will need 2 lines, one for the net amount, and a second line for the GST amount (which I will post in the Net column, obviously).
For both lines, the VAT amount will be zero.
That just leaves 1 question! Which T-code do I use for each line?
Oh, and whilst you are at it, feel free to advise if I have gone about this in the wrong way!
Thanks
Neil