AccountingWeb
| News |
|
Create a VAT only invoice in Quick Books? Hello all, A client has just become vat registered with an effective date of Dec 2004. However, the client has been trading and now wants to charge the output vat outstanding on existing invoices. Is there an easy way to charge a vat only invoice in Quick Books? If not, I suppose a manual invoice could be raised and a jouranl doen on Quick Books? Regards, John.
AccountingWEB.co.uk 4-Mar-2005 |
|
Reduce the cost of doing business
This comprehensive Microsoft whitepaper provides you with some solid, practical advice on how to make IT work for you. Read more... Compliance - it is not an option This article from Microsoft outlines how SMEs should look at legislative requirements for the easiest ways to comply Read more... |
Printable Version| User Comments |
|
Share your views with other users: |
 |
|
Number of comments: 6
can i create an invoice for a VAT registered business that does not show any mention of VAT except for the VRN this is for a host of very small items
Raise a new invoice. Enter the net as zero and the VAT as whatever it needs to be. I've just done it in QuickBooks 2008.
Hi mr. John, Read your query and what striked in my mind is that, as per my knowledge in Quickbooks it is not possible to create a seperate Invoice only for VAT uncharged on invoices generated in past . However what i am conerned about is that if you create a manual Invoice for such VAT and pass a journal in Quickbooks, how is it going to effect the VAT report in Quickbooks... i mean to say how it is going to link with the other VAT charged displayed in the VAT report.... if you have already solved this query or else, will you also please clear the doubt that i mentioned above. Many Thanks
this will not work as it will simply halve the amount enter as John states
acs fee -100.00 z 0.00
If there are only invoices since the VAT registaration date, you could issue a fresh invoice showing the Goods and VAT, less the old invoice as a credit allowance with no VAT, leaving just the VAT collectable. if the clients have already paid, you could issue c/notes for the originals and re-issue new with vat invoices to get the same result.
Firstly, you may be able to set up a new VAT code, of 100%, call it "v" code perhaps. Then create your invoice - tick the "includes VAT" box and put the invoice amount (all vat) in the total column next to the description, over-writing any other vat code and amount. If that doesn't work, recreate the original invoice with a std vat code instead of zero or exempt - then the next line will be a "negative" amount of the same net amount, with a zero or exempt vat code (whatever the original wrong invoice showed). The balance of the invoice should be the VAT. Finally, if neither of those work, just raise a credit note to cancel the original invoice, then raise a new one for the correct amount. Whatever way you choose, make sure you communicate properly with the customer so they know what you've done and aren't presented with a potentially "weird" invoice they aren't expecting and can't reconcile with orders etc. It makes sense to write full details on the new invoice, and also to maybe ring them as well beforehand. |
|
|
| Related News |
Visit Any Answers |
Copyright © 2009 Sift Media. All rights reserved. Powered by Sift Unity.
The Sift Media Portfolio includes: accountingweb.co.uk | financeweek.co.uk | businesszone.co.uk
mycustomer.com | hrzone.co.uk | trainingzone.co.uk | knowledgeboard.com | ukbusinessforums.co.uk