In Sage I want to create a VAT only invoice, I know what I want it to do I just want the accounts to reflect this.
I can do most of this, where I'm falling short is that the debtors figure is being reduced by the VAT element. Sales revenue comes down a treat.
What I have done (not sure if it is the way, well can't be obviously:)) is raise a credit invoice, net zero. VAT 20% then allocate.
What I can do in Sage One is re-enter the invoice and completely edit - that to me isn't correct so I don't want to do that. (Dates wouldn't be true)
TIA
Hi Johnnie, raise a credit note for 20%1/6th of the original invoice, then issue a VAT only invoice for the same amount (presuming you can do that in sage)
It won't let you do VAT only invoices in VT+, so it would have to be a credit note for the full invoice, and then do a new invoice with VAT on it.
-- Edited by Leger on Saturday 25th of March 2017 01:39:17 PM
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Sage will certainly let you enter transactions that are VAT only - but I've no idea if it'll let you create a VAT-only invoice.
However, the real point of my reply is:
"raise a credit note for 20% of the original invoice"
NOOOOOOOOOOOOO! One sixth of the original invoice, not one fifth.
(I know what you meant - just as you know what you meant, and Johnny probably knew what you meant. But we can't be sure someone else isn't going to read this in future who isn't so mathematically compentent, and is one of the frighteningly high number of people who think that the same percentage applies to gross as net.)
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
Hi yes I did no it to be 1/6. Are there any legal reasons why a credit note can not be issued for the gross - and a brand new ivoice issued containing net and VAT? Scenario is waiting for a VAT number.
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
"raise a credit note for 20% of the original invoice"
NOOOOOOOOOOOOO! One sixth of the original invoice, not one fifth.
(I know what you meant - just as you know what you meant, and Johnny probably knew what you meant. But we can't be sure someone else isn't going to read this in future who isn't so mathematically compentent, and is one of the frighteningly high number of people who think that the same percentage applies to gross as net.)
Indeedy so, and thank you for pointing it out. I've corrected my comment.
Johnny, as far as I know there's no reason why you can't do a full credit note and re-issue showing net and gross, and that's the scenario I would use for VT+
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
