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June 3, 2019
Question

I need to claim the vat element only on a insurance claim how do i do this?

  • June 3, 2019
  • 1 reply
  • 1 view
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1 reply

Level 10
June 3, 2019


Hi branchwalkers

 

You will have to create a 100% VAT expense, fill out the expense details as normal, in the category column on line one enter a expense account, preferably purchases, in the Amounts are box select Exclusive of Tax, in the Amount column enter 0,01, in the VAT column select 20.0% S (20%), on the second line select the same expense account as you have for line one, in the Amount column enter -0.01, in the VAT column select Exempt (0%), enter the amount of vat you want to re-claim in the VAT box.