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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 3 months 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

1 Reply

Hi Kosher,

Yes, the system will be able to calculate your VAT liability, please refer to my email response for a more detailed explanation.

Tommy

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