FrontAccounting forum — 0 VAT

Re: 0 VAT

2011-10-06T13:44:42Z

If 0 rate work for invoices (from Suppliers AND customers) that will solve 90% of my problem. I didn't create a 0 % VAT because I thought it didn't work (because of the payment thing, so didn't check for invoices).
I have only a few things which are 0-VAT that I use Bank Payment for, so I guess I can just create a different GL account for them (like food-0-VAT). Just need to know that I have to do it. For bigger things I'll use a 0-VAT group or a dimension.

/Elax

Re: 0 VAT

2011-10-06T13:30:04Z

No this will not work. The 0 rate will only work with Invoices. Not in Banking and General Ledger because you are not allowed to enter 0 amount.
Can anyone from the UK help elax here?

/Joe

Re: 0 VAT

2011-10-06T12:30:57Z

I mean payment as "Bank payment" in (Banking and General Ledger). I'm not speaking here of invoices but just payment without supplier, as small stationary of food. That works well for small stationary (I create 2 lines one for the net amount and another one for the VAT) but I can't for the 0-VAT as the total amount is 0.
Does that make more sense ?

/Elax

Re: 0 VAT

2011-10-06T12:21:15Z

I don't understand what you mean by payment in this relation.
The VAT is put on the Invoice when you create it. You don't see the 0 rate, but it is monitored on the tax report.
The VAT has nothing to do with the payment. The inovice in payed with the net amount + ev. VAT, but the VAT record is established during invoicing.

/Joe

Re: 0 VAT

2011-10-06T09:59:34Z

I've tried and that doesn't work.
If enter a payment, without any VAT item nothing appears in the VAT report, and If I had a 0-VAT vat type,
when I tried to enter a line for the VAT on the payment, it complains that the amount is null. (which is normal, it's 0-VATed therefore the amount going in the 0-VAT account is null)

What else can I try ?
/Elax

Re: 0 VAT

2011-10-06T06:37:41Z

You don't see this 0 rate nformation on the Invoices, but the 0% rates are monitored in the tax report. Please try for yourselves on the Training Co.

/Joe

0 VAT

2011-10-05T10:16:44Z

Hi
I need (that's the law in the UK) to add 0-VAT things in the VAT report.
The solution should be easy , I create a new tax type cat 0-VAT with a rate of 0 and assign to items.
However, when I'm not buying items but do a payment instead, I need to add a line with an amount of 0 (going into the 0-VAT) account.
I can' do that as the FA refuses to enter a null line. I guess I can't remove this 'guard', but I'm wondering how FA would guess the amount which has been taxed.

Any idea ? I would be happy with any other way allowing me to add the 0-VAT in the VAT report.
(That's a major issue)

/Elax