Pre 1st Jan, our supplier invoices from EU would be posted in sage as T8. Post 1st Jan with the addition of a customs agent and Postoned VAT Accounting please advise me which one of the below procedure would be the correct way to account for the purchase, PVA and import duty.
- Post Supplier Invoice as T8 to the supplier to N/C 5000
- Post Duty as T9 from the Customs agents Invoice in N/C 5001
- Post the Postoned VAT on supplier invoice and Duty in N/C 5101 as T18 through a new supplier account labelled "IMPORTS"
- Post Supplier Invoice as T18 in N/C 5000
- Post Duty and Import as T18 in 5001 for Duty and 5101 for Import VAT
with option 2 the if vat is included in the same transaction as T18 wouldnt that effect the supplier invoice total as it will be defferent then the invoice or will sage automatically post a credit for the vat elements to balance the figure.