Hi, recently imported an item for the business (not for resale) that attracted a small amount of VAT which I have to pay DHL. They have invoiced me for the VAT and a small admin fee.
How do I enter this into Solar Accounts correctly as I can reclaim this amount on my normal VAT returns?
The cost of the goods is in US$, the cost in sterling and credit card fee does not tally with the VAT.
Hi KP,
See this page for an example of how to record the VAT and admin fee:
http://www.solaraccounts.co.uk/forum/topic.php?TopicId=1116&Posts=2
You can also add an extra line for the credit card fee with 0% VAT.
You say that the cost in sterling does not tally with the VAT amount. Why is that? Is it because of a change the exchange rate between the time you made the purchase and the time you paid your supplier?
Thanks
