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Post Info TOPIC: Vehicle Vat scale charge in Accounts
lots to learn


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Vehicle Vat scale charge in Accounts
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Hi

Looking for some help

Does the vehicle vat scale charge appear as an expense in the accounts?

I have inputted the vat element as a vat adjustment for the purpose of the vat return but was unsure if it appeared in the accounts.

 



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Stardoe


Guru

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Hi there,

Yes the vat part of the scale charge should appear as an expense in the accounts.

If you are doing a journal I would post it as follows:-

Scale charge gross amount DR 100
VAT amount CR 16.67
Scale charge net amount CR 83.33

If you are using Sage the scale charge nominal code is 7350 if using standard COA.

HTH
Pauline

P.S. Apologies if the formatting doesn't come out well when I post this!

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Pauline
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