Hi Mark,
I've been charged Import VAT by FedEx and I dont know how to enter this in solar to reclaim this. Do you have any advice?
Regards
Stephen
Hi Stephen
Please see this page for an example of how to record import VAT from a
freight company:
https://www.solaraccounts.co.uk/forum/topic/1112
In your case if FedEx doesn't charge you an admin fee or customs duty, then
you wouldn't need to enter the line 1 shown in the example for £96.48, or
line 2 shown in the example for £17.95
Hi Mark,
Many thanks all sorted. So you account for Import value with 20% VAT and
then subtract the Import Value without VAT to create the VAT lability.
Regards,
Hi Stephen,
Yes that's correct - the net result is that the total amount of the
transaction will be treated as VAT.