Hello,
I ran an RTD report and it looks like all zero rated services sales I made to the USA and Canada are showing in D1 (Home 0%). Is that normal? I was expecting to see services sales to all outside the state in D4.
Best regards.
Hello,
When I file a return the values are rounded up or down so there is no floating numbers, only integers. Ex: £1.20 becomes £1 and 2.75 becomes £3.
Sage Accounting does the same so when I run my VAT reports in the software I get the exact same…
We have our GST setup to record GST on Sales into a GST account, and we also have a separate account to record GST (ITC) on purchases.
When we purchase something I use the "Other payment" transaction in the banking section and the journal entry is as…
Hi,
I passed a year end VAT adjustment journal as the shareholder paid for the VAT in their personal capacity
The entry went against the "Opening Balance and VAT adjustment" account
I now need to reallocate this to their loan account
PS this has…
Hi,
Why is it that some of my suppliers on the Banking review page, have VAT set as a default NO VAT which cannot be changed? I have checked the suppliers accounts and they are set to standard VAT and they all have their VAT numbers in place.
As per your VAT registration, or change thereof, you may be required to change your VAT reporting frequency.
This is usually from 2 months to 1 month or vice versa.
It is possible to do this without affecting your previous VAT reporting history. …
Key facts about VAT for start-ups and small businesses
The Quick Start Guide to VAT includes details regarding the following:
VAT Basics
VAT Rates
VAT Registration
VAT Invoices
Surcharges and Penalties
VAT Returns
Click here for m…
