VT Transaction + Zero VAT journals

VT Transaction + Zero VAT journals

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What is the best way to post a zero VAT journal in VT Transaction + (where the entry is within the scope of VAT); effectively the equivalent to T0 in Sage? Is the only way to create a Zero value input row to VAT Inputs and enter the net value in the relevant box?

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By Patricia McCartney
13th Apr 2013 16:41

VT Transaction + Zero VAT journals

You can do it that way or you could use the "PAY" or "REC" options and switch ledgers if is not a payment transaction.  Out of interest, what is the double entry?

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By paulwakefield1
13th Apr 2013 17:08

Thanks

It's mainly for expenses funded by the director (i.e. to Director's loan).

The client has just switched from Sage and we're both going through the learning process. As ever, when switching programs, it takes a while to find the most efficient way of handling things.

Yes - PAY makes sense. Thank you.

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