Hi
When I enter an invoice with VAT, Solar allocates the expense as NET-Bal Sheet Cost, VAT-Gain/Loss on Flat Rate. My accountant would like the NET as well as the VAT amount allocated to the Balance Sheet Cost account. Is this possible, and am I doing it wrong?
Hi Laurence,
Unfortunately Solar Accounts does not provide a configuration option to show the 'VAT-inclusive' cost of expenses when you are under the flat rate scheme. However, a work-around is to set the VAT column to 0% instead of 20% when recording the purchase.
Regards,
