Hi everyone, can anyone help please, I'm using sage 50 accounts programme and need to enter an invoice for a windscreen replacement. Do I just enter the invoice as I would do any other, even though the excess throws the vat amount out? as this will also be out when I next submit the vat to HMRC? or is there another way to enter this particular invoice to avoid any vat imbalance? Or am I just worrying for worrying's sake!
Please can you do an intro - we always ask newbies.
Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, who is your MLR with, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.
Also please add your first name so that it appears under the signature bar on your posts?! Saves people looking it up(Edit profile --->signatures)
(^^Stolen from Joanne)
What is the legal entity? What kind of vehicle is it? Whose vehicle is it? Directors or staff? Is the vehicle a company asset? Is there any personal use of the vehicle?
No professional body, work for my husband, just learned Sage via the accountant, so do basics add invoices & sales invoices, make payments, chase payments and submit the vat quarterly.
Don't really know what you mean by MLR....apologies. No actual qualifications in accounting, but I was previously a qualified nurse and registered midwife years back :))
Legal entity??
The vehicle is a Volkswagen Transporter, my husband's van, He is a Director of a limited refrigeration engineering company, it does belong to the company, so is a company asset, it stays at our address and he uses it mostly for business, very occasionally for personal use.
I suppose I'm just worrying that this invoice will throw my vat calculations out when I come to submit to HMRC due to the excess payment.
Sorry if it's a daft question if I'm being a worry wort just tell me :)
Have a chat with your Accountant, that is what they are there for and what you are paying them for. You are right to be concerned, the processing of your VAT needs to be accurate or you will end be fined and charged penalties.
This site is for professional bookkeepers rather than providing help to small business owners, so sorry we cannot help further.
