Hello, I am new to Sage 50 and have a question regarding purchase invoice. I have a client on a flat rate scheme but they bought a van for the company (courier company). Now he can reclaim the VAT on the car as the purchase was one off for more than £2k to use in the business. How do I input this invoice into Sage 50 to make sure it will get picked up when doing VAT return please? Thank you
Hi Ellie
Given you now seem to have moved into bookkeeping (your earlier posts talked about helping your boyfriend) then its appropriate for you to do a brief introduction that we ask all newbies to do. Eg how long a bookkeeper/do you work for an Accountants or have your own clients/is it just your boyfriend you look after currently/what is your background pre bookkeeping/what prof body are you with/exams passed to date/which exams you are studying/where based - that sort of thing.
Did your boyfriend find another Accountant?
You mention a van, but then say its a car - which is it as the VAT rules are very different.
Is the vehicle solely and exclusively for business use or is there some personal use?
What version of sage?
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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
Hi, do I do the introduction here, in this topic? If so: I work for a small accountancy firm (will be 1 year next month), but also setting up my own small business. I have a master degree in accountancy, but from a different country and therefore I decided to support my knowledge by completing AAT level 3 and now going into level 4.
Yes, my boyfriend was redirected to another accountant for an advice at that time and now he has been offered a contract at one of the companies he was providing services for.
Sorry about van-car mess, it is a van for a courier company solely and exclusively for business use. As I use Xero at work I am not very familiar with Sage, thus asking the question.
Hi Ellie Yes here is ok. Thanks for the update. Sounds like you have lots of fun ahead with your level 4. Are you going to get a licence under the AATQB banner or wait until you can go the full MAAT MIP?
Glad your b/f got sorted
Officially as well - welcome to the forum.
I am assuming an up to date version of sage. Go to 'help' across the top and 'About' and it will tell you what version (in case you cannot find this info below).
You should have a T25 tax code - so use this when you key the purchase invoice and it will pop the VAT in the correct box for the return.
Suggest before you try ANYTHING new that you do a backup x 2, test they work and then if you hit a wrong button you can just do a restore and have another go.
HTH
__________________
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
Thank you very much Joanne. I'm going to wait for the full MAAT MIP. At the moment I'm struggling a bit to find enough time for studying, but my little one will soon have more hours at the nursery, which will give me more time to study :) happy days!
Thank you very much Joanne. I'm going to wait for the full MAAT MIP. At the moment I'm struggling a bit to find enough time for studying, but my little one will soon have more hours at the nursery, which will give me more time to study :) happy days!
Well you know where to come with any study questions - its good practice for all of us and we have a couple of students on here already. Good luck with the study when you get back to it.
__________________
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
