Manual entry of sterling VAT amount on foreign currency invoice

Question asked by Richard Cooper 10 years ago

If there any way to manually edit the sterling VAT amount on foreign currency invoices which include VAT?

As a somewhat simplified example, consider an invoice for $14.50 with 20% VAT and an exchange rate of 1.5133. When I enter those details Clearbooks calculates for me that the value of the invoice in sterling is £9.58 + £1.92 VAT. But I actually want to record it as £9.58 + £1.91 VAT. Is that possible?

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Hi Richard,

You will not be able to change the VAT amount within the invoice. However you can amend this through a journal. You will need to debit or credit the VAT control account by the desired amount so in the case of the above example this will be a debit by 0.01 pence. To create a journal you will need to navigate Tools > Journals > Create.

Many thanks,

Anan

Best answer
10 years ago

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