Question asked by LJ Pritchard 4 weeks ago
Not VAT registered but should I break down net and gross when adding Supplier Invoices to my Bills? Obviously I don't claim VAT but is there any other reason to include the VAT amount?
Hi LJ,
I have taken a look and can see you are on the Sole Trader plan. As you are not registered for VAT, it is not possible to record VAT. Instead, you should record the total cost of the invoice as a single gross amount under the appropriate expense account code.
Tommy
Best answerThanks for the clarification. The main reason I asked is that, when adding a bill, it looks like you CAN break the amount down into VAT. Also, many invoices with multiple items add the VAT as a single unit at the end meaning, if I break the bill down as I sometimes need to do, I have to work out the Gross amount for each item. Anyway - all cleared up now. Thanks again.
You must 