Flat Rate Scheme: Can I record total sales for the month using a journal and show the VAT seperately. Will Quickbooks then calculate the FR correctly on a qtl basis?

Hi nicolaahutchings

You are able to create a journal for the sales however we recommend to include the the 20% VAT code on the journal as the FRS amount will be calculated by the system. If you enter a journal for sales and then attempt to enter a journal/transaction purely relating to VAT it will cause the amount in box 6 to increase and you will then have to adjust box 6 to counteract the increase.