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Post Info TOPIC: banking VAT payment on sage


Member

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Posts: 16
Date:
banking VAT payment on sage


Hi,

I've paid an amount to HMRC VAT and am wondering what n/c to use as well as whether I need to change to vat code to T-0 when entering into the bank on sage?

I've used the code 2202 vat liability but not sure if this is correct.

Thanks

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Guru

Status: Offline
Posts: 1329
Date:

Entering into bank is T9. VAT liability is fine, but have you journalled your sales tax, purchase tax and difference into VAT liability so that when you pay the VAT liability it clears the account.

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Advice from beyond the grave!!!

E&OE



Member

Status: Offline
Posts: 16
Date:

Thanks for that.

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Senior Member

Status: Offline
Posts: 384
Date:

T9 for the VAT payment however you can enter the VAT tfr via the VAT wizard rather than a journal.
Hope helps

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Donna - Complete Book-Keeping Ltd & CBK Training - 07939 101900

Payroll & bookkeeping solutions.

www.completebookkeeping.co.uk / www.cbktrain.co.uk

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