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Xero Purchase Vat Rates from Tax Drop Down Box

Xero Purchase Vat Rates from Tax Drop Down Box

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I am entering a few purchases that although would include VAT such as Fuel, no VAT receipt has been obtained, or receipts where the seller is not vat registered so no vat has been included even though the item would be vatable to a vat registered business. 

In Sage I would normally enter these as T0, and am wondering if the Zero Rated selection in Xero is the same choice?  I can't find anything which tells me which box the various tax codes fall into on the Vat Return in Xero.  

Thanking you in advance.

 

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By JKnight
03rd Dec 2018 22:07

The equivalent to T0 in Xero would be Zero Rated Income or Zero Rated Expenses. Xero has different tax rates for income and expenses and it is these that determine which VAT return box the transaction appears in.

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