Join BKN

Join BKN
Join BKN

Join BKN

Post Info TOPIC: C79 Form - How to post in Sage???????


Member

Status: Offline
Posts: 8
Date:
C79 Form - How to post in Sage???????


Please help as I need to do a VAT rtn today & first time I have recived a C79 form. Do I enter it as a payment with just VAT, or is there a journal to do??

Thanks!


__________________


Expert

Status: Offline
Posts: 2213
Date:

Miss E
Not done it either but have found this on AskSage website.
You might find it usefull

To post a supplier invoice to record the duty and import VAT

You cannot reclaim any import VAT paid until you have received form C79 from HMRC.

If you have received form C79

  1. Open the Suppliers module then from the Links pane, click Batch Invoice.

    Sage Accounts v11 and below - Open the Suppliers module then click Invoice.

    The Batch Supplier Invoices window appears.

  2. To record the supplier invoice for duty and import VAT, enter the relevant details in the boxes provided. For example:

    A/C
    Date
    N/C
    Details
    Net
    T/C
    VAT
    IMPORTSDate5101Import VAT0.00T187.50
    IMPORTSDate5101Import duty100.00T117.50

    Note: If you are using the Sage default nominal structure, 5101 is the Import Duty nominal code. The import VAT transaction does not affect this nominal code, as the net value is zero.

    Generally VAT is charged on duty at the same rate as the item being imported. However, if you do not know which VAT rate to apply, you should contact your local VAT office.

  3. To post the invoice and return to the Suppliers window, click Save then click Close.

You have now posted your duty and import VAT charges. The VAT element is picked up in box 4 in the VAT Return, reclaiming the VAT amount.

You have now completed all of the transactions necessary to reclaim the import VAT and the VAT on duty on goods purchased from countries outside the EC.


Sorry about the layout but copying & pasting messes up the format a bit

Bill



-- Edited by Wella on Monday 25th of January 2010 05:42:04 PM

__________________

 

 

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  

BKN Special Offers

 

Resources

Careers & Qualifications  Start Up Essentials  Marketing Centre   Software Reviews
What is a book-keeper  Register as Self-Employed Networking  Software Blog
 Home Study Courses  Money Laundering Local Accountants  
 Qualifications/ Associations  Data Protection Direct Marketing  
 Franchises  Registering as an agent  Telemarketing  
 College / Night School  PI Insurance  Directories  
 Recruitment  Stationery  Google  
     Twitter  
     Volunteer Work  

 

 

 

 

 
 

 
   

 

Copy Right Bookcert Limited