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Customer paying supplier - VAT treatment

Customer paying supplier - VAT treatment

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Hi All,

New to this site :)

So i have been invoiced from a supplier for a Kitchen which includes VAT. The customer however went in an made the payment directly, not for the full amount however due to items being changed and returned.

It has all got a little messy and i don't know how to post the transaction.

1. Post the supplier invoice with the VAT - YES

2. How do i record the payment and the VAT for the cutsomers transaction? As technically our statement has reduced but not by the same amount on the invoice?

Thank you

Replies (9)

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By Cheshire
21st Jul 2017 07:26

Duplicated.

Thanks (0)
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By Cheshire
21st Jul 2017 07:25

You don't say who 'you' are in this transaction. I can guess but it might help if you explain a bit more.

What have you invoiced the customer for and what about your mark up for the the items from the kitchen supplier.

Vat status. Again I can guess, but it might help if you scope out the question better.

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Replying to Cheshire:
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By learose
21st Jul 2017 09:34

We are the builder, we are a limited company and VAT registered.

We do not usually have this happen, I was unwell and my husband advised the customer went in and paid for part of the kitchen themselves which the supplier took, however this was only a part payment, the rest we have invoiced the customer for and added a mark up.

This means we have not actually handled any money.

I just wondered how I post this. I have an invoice including VAT that was part paid by a customer directly to the supplier?

I hope this makes more sense?

Thank you

Thanks (1)
RLI
By lionofludesch
21st Jul 2017 09:12

You received some money from your customer and it went to the supplier to reduce your debt to him.

It's just that you didn't physically handle it.

If you're going to be confused by stuff like this, don't do it. The most complicated thing you can do is have bills paid by deduction. You have to break them down into individual transactions.

Thanks (1)
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By learose
21st Jul 2017 09:34

We are the builder, we are a limited company and VAT registered.

We do not usually have this happen, I was unwell and my husband advised the customer went in and paid for part of the kitchen themselves which the supplier took, however this was only a part payment, the rest we have invoiced the customer for and added a mark up.

This means we have not actually handled any money.

I just wondered how I post this. I have an invoice including VAT that was part paid by a customer directly to the supplier?

I hope this makes more sense?

Thank you

Thanks (0)
Replying to learose:
RLI
By lionofludesch
21st Jul 2017 09:59

learose wrote:

This means we have not actually handled any money.

Just pretend you did.

And tell your husband to stop interfering.

Thanks (1)
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By sparenaut
21st Jul 2017 10:46

Find a professional book-keeper. The International Association of Book-keepers (IAB) have a list of qualified firms in your area, on their website.
They are worth their weight in gold!

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Replying to sparenaut:
RLI
By lionofludesch
21st Jul 2017 11:12

sparenaut wrote:

They are worth their weight in gold!

Hard to believe.

I've seen some pretty heavy bookkeepers.

Thanks (1)
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By catlady
21st Jul 2017 18:07

Do you use an accounting system, if so, which one?

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