Hi just wondering if anyone could help me with how I record the following in Sage please?
An England based standard vat registered Ltd mechanic has purchased some car parts from Germany. The purchase invoice is in GBP and says the price excl vat is £1,624.67 the vat is 0 and total inc vat is £1,624.67. At the bottom is says tax free deliveries are due to either:
The presence of a valid VAT ID and therefore tax exempt intra community delivery.
A non taxable export delivery The amount paid out of the bank is 1,698.57
There is also a UPS purchase invoice for the above items which reads for the import shipment page
Payor/receiver
Disbursement 11.50
Duty amount 55.55
Value added tax 334.84
Total charges £401.89
And then the Invoice page has two columns
one under non taxable and the other net charges
They are import vat 334.84
Duties 55.55
Brokerage charge 11.50.
Does the parts purchase invoice need to have any vat reverse charge amount entered even though none is stated?
Will the ups 334.84 vat be treated as normal input vat?
Thank you Im advance
