I have a new client, who I have taken on, who is on SAGE instants V10, my question is:- he is not VAT registered so when I input the Suppliers invoice on the system do I put the VAT in or just enter the Gross amount. The previous person has it as a T0 0% but not sure. He dosen't do a VAT return as his turn over is lower than the VAT threshold.
ANy help will be much appreciated, I think it needs to be inputted as 0% but would like confirmation before I go inputting aload of Data.
You need to enter both sales and purchase invoices as T9, the gross amounts, if the business is not VAT registered.
I'm not too familiar with Sage so if I'm wrong here someone will put us right. You can save yourself a lot of work later on by setting up the VAT options correctly...select Settings - Customer Defaults - Record tab and set "Std Tax Code" to T9 (outside the scope of VAT). Do the same with Settings - Supplier Defaults. Sage should now assume that all transactions are outside the scope of VAT.
I agree with Rob, its all in the default settings. If your client is not vat reg, all his suppliers, misc invoices and sales invoices entered onto Sage should be T9 and the Gross figure entered.
Thanks very much, I thought it was the Gross amount, but I have taken it over from someone else and I think they have the codes set up wrong, I will sort it out now before I go entering aload of data.
