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Post Info TOPIC: VAT on cash back received
AMajor


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VAT on cash back received
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Hi,

A client has bought two computer items and has received cash back, both from different suppliers. Should the cash be logged as received with vat applied? They are a vat registered business. 

Any advice would be appreciated

Thanks

Angie



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pinkdon


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Hi,

Yes I believe it should. We just purchased a new printer with cashback and later received an "accounting voucher" for tax purchases which I've entered as vat included. There's a similar question here - http://bookkeepers.activeboard.com/t56841977/cashback-and-reward-programs/

Hope the link actually works!


Donna



-- Edited by pinkdon on Wednesday 20th of May 2015 02:09:50 PM

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AMajor


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Thanks Donna, really appreciate it.

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