Skip to Content
0
Former Member
Oct 14, 2005 at 04:36 PM

Posting 100% VAT

55 Views

Has any managed to post VAT/TAX through a standard GL journal and manage to get the VAT to show as deductable on the Tax Return. I am trying to find a way of claiming back VAT from purchase previously posted at full cost due to no VAT evidence. Two problems I am having are, getting the amount to show as deductable and getting a journal to allow a posting with 100% VAT with a zero posting to the expense or tax account. E.G.

AB

40 to expense with tax code 100% VX at 17.50

50 to expense at 17.50

or

AB

50 to expense at 17.50

40 to tax account with zero value and 17.50 tax value

Neither option work.