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

Question asked by Richard Cook 10 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

Time
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John Fouracre

Staff

1749 entries

Hi Rick,

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

10 years ago

John Fouracre

Staff

1749 entries

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.

10 years ago

Richard Cook

17 entries

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!

10 years ago

Richard Cook

17 entries

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

file

10 years ago

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

4 Replies

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