Forum Message

Change VAT amount on an expense

Hi

i have just recorded an expense (toll road fees) in Solar Accounts. I have to input the amount paid out which is inclusive of VAT and the system automatically works the VAT out. However, this amount does not tie up with the VAT on my receipts for the toll road fees paid. How can I change the actual nett and VAT amounts please?


Posted by Rob Nash on Dec 6, 2012 11:21 AM GMT

Hi Rob,

Can you please tell me:
1. What VAT-inclusive figure did you enter into Solar Accounts?
2. What VAT amount did Solar Accounts calculate?
3. What is the VAT-exclusive amount shown on your receipt?
4. What is the VAT amount shown on your receipt?

Thanks


Posted by Mark McLaren (Solar Accounts) on Dec 6, 2012 11:57 AM GMT

Hi Mark

  1. £55.50
    2. £9.25
    3. £46.21
    4. £9.29

I had a total of 12 receipts for toll road charges for November. I have banded them together and put them on as one transaction on the system. I have used the nett & VAT amounts shown on the actual receipts and added them together so that may explain the difference in pennies on the VAT. But I still need to change the VAT amount on the system to the VAT amounts actually charged on my receipts.

Hope that makes sense to you!


Posted by Rob Nash on Dec 6, 2012 12:09 PM GMT

Hi Rob,

The simplest solution is to set the VAT rate to 20.1%.

Alternative if you enter the expense as a Purchase Invoice you can click the VAT link below the Subtotal field to allow you to directly enter the VAT amount.

Regards


Posted by Mark McLaren (Solar Accounts) on Dec 6, 2012 12:20 PM GMT