Hi,
In addition to Solar online for our trading company I also use the old solar (offline 3.9.8d) for our holding company. The holding company is not vat registered so I assume I enter all purchases (Money Paid Out) as 'Out of Scope' for VAT and use the vat inclusive amount - is that correct?
I would like to keep track of how much vat we are spending to see if it would be worth registering (even though we are under the turnover limit), would it make any difference to the accounts if we entered the payments as 'sale of goods to uk customer' and show the vat separately? Then I can keep an eye on how much vat we spend?
Also I still cant see any online Forum entries since March 2019 - is the online forum still going?
Hi Duncan,
I'm afraid that approach would not work as it would not allocate the full
cost to the expense - a sixth of the amount would be allocated to the VAT
Liability account. As an alternative, I recommend that you create a new
'Department' called 'Vatable transactions', then allocate each purchase to
that department. Later you can view a P&L report of that 'department' and
calculate the VAT amount paid as being one sixth of the total expense for
that department.
We are no longer actively maintaining the online forum - sorry. Please use
email for all support queries.
