Hi I'm using Capium cloud based bookkeeping and have to account for Reverse Charge VAT. I understand how to complete VAT Return using boxes 1, 4, 6 & 7 which then cancels the VAT element out. My question is do I have to journal out the sales element for self assessment so it shows a true reflection of actual sales? In my head, if I were to leave the sales element of the reverse charge in, this would skew the actual profit or loss made in the tax year.
Hope someone can confirm that I've got it straight in my head.