We have received a supplier invoice from a UK supplier but its in Euros. We have requested from the supplier that the invoice needs to show the UK GBP VAT equaivalent so we can reclaim the vat but i wasnt sure how to actually post the invoice onto our ledgers, ie what the journals would be? Any help greatly appreciated?
Hi Dan
Welcome to the forum. we always ask newbies to post a little intro about themselves - helps to get to know you and also how to pitch the answers. Doesnt need to be a lot of info - bookkeeper or Accountant, training, what prof body you are with, where based, how long in role, work for Accountancy practice or have your own bookkeeping business, that sort of thing.
Also - if you could add your first name so that it drops just below the line in all your posts - saves us having to remember or look up your name each time (you can do this through edit your profile).
As you have only just asked the supplier I would give it a while before you post anything at this stage. But for when you do, firstly a few Qs - will you pay in euros/do you have a euro account or will you need to convert or will you pay an agreed euro amount? What software are you using? (You might not need to journal at all) What version and year for the software? Does the software handle currencies or just sterling? Did the supplier quote a VAT number and have you verified it?
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
