Take a free trial of Clear Books Or take a look at our new product Clear Books Micro

Journal entries for VAT return box 4 (DLA account entry)

Question asked by Richard Cook 5 years ago

Hi All,

I'm scratching my head at the moment trying to see VAT from a Journal entry

I purchased an item for £49.95

I have managed to create a Journal entry between Plant & equip.. and Directors Loan Account, but how do I see/enter the £8.33 VAT in order to claim it back?

I see there is a VAT control Account, but it's a mystery..

Thanks in advance!

Rick

4 Replies

Hi Rick,

Yep that seems perfect - the system should add 8.33 to box 4 and 41.62 to box 7.

Ok, I may have answered my own question, does this look correct?

file

Hi Rick,

Yep that seems perfect - the system should add 8.33 to box 4 and 41.62 to box 7.

Thank's for the swift response John..

May I ask another question..

My monthly rail season ticket is of course zero VAT rated, am I right in thinking these purchases should show up in Box 7 of the VAT return - and nothing in box 4?

Again thanks for the response!

No problem Rick,

Any purchases or expenses with a 0% VAT rate will show up in box 7, however they will also show up in box 4 albeit with a 0 amount.

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are