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Manage Suppliers and Expenses for

Manage Suppliers and Expenses for

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Nominal coding of Expenses with VAT is posting to P & L account, when the VAT is recoverable and should be posting to the VAT control account.

Hi I am a new user of quick books. The system has been in place for circa 2 years. The company is registered for VAT. When a new expenses is selected and a exclusive of VAT option is selected the net cost posts correctly to the nominal I have selected or from the purchase order, however the VAT amount, whilst calculated correctly then automatically posts to code 7006, which is a P & L code.Questions1. Where is the form nominal selection controlled from for where the VAT element posts too (i.e what makes it go to 7006)?2. How do I change this as it should be on a balance sheet code? Either a asset or negating from the output tax liability. The output tax works fine and credits income and vat liabilities and debits debtors, it just appears to be an expense issue. It is as if it quickbooks believes the VAT on expenses in not recoverable for all items. Thanks  I

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