Forum Message

VAT-only invoice

Is there a way of producing an invoice for VAT only.
This is for a repair that insurance paid for but we had to pay the VAT


Posted by Gordon Monument on Mar 4, 2010 11:11 AM GMT

Hi Gordon,

Let's say I want to create a 'VAT-only' invoice for £17.50. I would create an invoice with two lines:
1. On the first line I set the VAT rate to 17.5% and the amount (before VAT) to £100
2. On the second line I set the VAT rate to 0% and the amount to -£100

The invoice total would then be £17.50 - all of this is VAT.

Regards,


Posted by Mark McLaren (Solar Accounts) on Mar 5, 2010 9:56 AM GMT

Thanks for speeedy response Mark

So, first line is something like 'service/repairs = £x.xx +vat
Am i right in thinking same acccount 'service/repairs' for the negative value??

Cheers
Andrew


Posted by Andrew Taylor on Mar 27, 2011 4:03 PM BST

Hi Andrew,

Yes - use the same account for both lines. (In this case it doesn't matter which account you use since the lines cancel each other out).

Regards,


Posted by Mark McLaren (Solar Accounts) on Mar 27, 2011 4:18 PM BST

Hi Mark

Top man with the spot on advice and speedy response.

Sorry for replying in wrong thread.


Posted by Andrew Taylor on Mar 28, 2011 12:41 AM BST

i too want a vat only invoice for 892.30 which is 20% vat on 4461.52 but don't understand what you are saying can you tell me how i do this please.


Posted by Mark Cuthbert on Sep 4, 2012 11:41 AM BST

Hi Mark,

In your case the you will have:
Line 1: £4,461.50 @ 20%
Line 2: -£4,461.50 @ 0%

Regards,


Posted by Mark McLaren (Solar Accounts) on Sep 4, 2012 1:02 PM BST