I purchased some goods from China. I paid in US Dollars from my Private account there was no VAT Added to the invoice. This amount has been added to the directors loan account and seems pretty straight forward.

But I recently wrote a company cheque to DHL for £1300 that was all VAT. How can I enter this bill so I get can reclaim the 1300. Thanks

Hi Jim,

Please see this page for details of how to record the payment to DHL:
http://www.solaraccounts.co.uk/forum/topic.php?TopicId=1116&Posts=2

Regards

Thanks, but where did those figures come from? I can't see how you worked them out.

My charges precisely are

148.52 Duty
25.57 charges
1129.85 VAT

Hi Jim,

If your VAT rate is 20% then your ex-VAT amount is £1,129.85 x 5 = £5,649.25 and the inc-VAT amount is £5649.25 + £1129.85 = £6,779.10. So in your case line 3 would be £6,779.10 and line 4 would be -£5,649.25. Lines 1 and 2 should be £148.52 and £25.57.

If you are recording the transaction as a Purchase Invoice then check that the 'Prices include VAT' box is ticked.

Regards,