We use Quickbooks Desktop Enterprise 2018 and I'm struggling to enter an invoice for £5,700 with the Polish VAT rate of 23%.
Any help would be greatly appreciated.
I've tried the Intuit forums but nobody has responded in over 3 days.
Replies (10)
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Possibly not. You have to get to the bottom of that before you can work out the postings in your accounting system.I am not entirely sure, is that not correct?
Personally I would ignore the VAT and simply post the total cost to the relevant expense heading pending further enquiries. If subsequently you reclaim or are refunded the VAT, I would also post the refund to that expense heading. It would be a mistake to mix Polish VAT with your normal UK VAT accounting.
You need to ask the supplier why they charged you VAT and did not use the 'reverse charge procedure'.
Much depends on whether you can recover this VAT.
Tell us more about your interesting transaction.
Your client probably needs to supply its UK VAT number to the Polish supplier and ask for a credit note for the VAT element. Polish VAT is not chargeable when a B2B supply is made to a registered trader in another EU member state.
Your client probably needs to supply its UK VAT number to the Polish supplier and ask for a credit note for the VAT element.
Probably (or possibly).
Polish VAT is not chargeable when a B2B supply is made to a registered trader in another EU member state.
Often not chargeable - except for when it is of course.
We don't even know what type of supply is involved yet. It could be hotel accommodation for all we know.
You are a bookkeeper.
Knowledge of core VAT is essential
posting a question here or on intuit forum should not be the first places where you seek answers.
Your study manuals, if retained, may help remind you what you have forgotten or overlooked.
Then your VAT books... Tolley or others would give the answer in moments. Tolley TAXwise is a brilliant investment.
Then HMRC VAT resources for more insight and to broaden your own knowledge.
that is how most AW responders accumulate their own expertise
why would you believe any answers on AW or other forums..... you must check the HMRC VAT guidance first.... to put any ''solution'' offered in context.
The late great Jim Slater referred to the '' Zulu Principle''....google it ...... it served him very well.
This will then provide the broader picture
Get out of bed the wrong side this morning did we Frank?
Stop being so harsh, the OP has asked a bookkeeping forum, HMRC guidance on this won’t necessarily be obvious on this matter, now they’ve tried an accountancy forum for a little bit of advice.
You can’t blame the OP for not having dealt with Polish VAT before. I know that you’ll start going on that he (for ease of typing I’m going with this term, apologies if wrong) should do, but if he’s only ever seen EC invoices with no vat on, it’s not surprising he’s a little confused. Not everyone has your obviously superior intellect.
OP - go with the posts further up in this thread, it’s good practical advice.