How to input a VAT only invoice

advertisement
How to input a VAT only invoice
Example of a VAT only invoice
To calculate the net amount when you only have the VAT amount, you need to do the following
calculation:

Times the VAT amount by 5 to get the net amount.
This can then be filled in on the payment slip in the normal way
You will need to credit the net amount back out leaving only the VAT to be paid/accounted for.
Any additional items on the invoice can be entered in the normal way.
Example of a completed payment slip for the above invoice:
VAT
code
should
be
SN,
SR or
SP
VAT
code
should
be OS
as
there
is no
supply
If you have any further queries, please contact the Payments Team on extn 3743 or email
[email protected]
Download
Random flashcards

Arab people

– Cards

Radiobiology

– Cards

Emergency medicine

– Cards

Create flashcards