How to set vat scheam that will work vat as iam shop keeper till sale part vat rate and part zero rate
Question asked by koser shafiq 6 years ago
Hi
iam only using this software for my shop business as follows buying stock from cash and carry etc recording my cash sale at counter till including lottery sales and paypoint bill payments cash
iam using money and bank with set up as
1 counter till sales
which I use for money out for stock purchasers etc money in for recording all the cash revenue from till
money in for lottery sales which is cash as other income
money in for paypoint bill which is cash as other income
visa payments for sales money in as visa revenue striate in bank account
my cash revenue and visa payments revenue is income which is part vat rated and part zero rated
i at this stage work out and separate percentage of revenue taking as vat rated and record it on the revenue cash and part of the percentage which is zero rated and record it on the revenue zero rated cash sales
i do not use any purchase invoice and i do not use any bill payment invoice everything is don through my money and bank
will this workout my quarterly vat to submit to inland revenue . please help to understand weather this will work my correct vat owed to inland revenue
thank you