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Post Info TOPIC: VAT Question
whiskerspanther


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VAT Question
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When inputting supplier invoices onto Sage for a non vat registered client, am I right in thinking I still input any vat element on these invoices?

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Alison


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Non VAT registered businesses don't have VAT element on invoices.

For example if £30 was spent on petrol then £30 would be posted to the nominal code for fuel and use the correct tax code for this (some people use T0 and some T9).

Alison

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Julie


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Hi, Whikerpanther,

Alison is correct - if they are non vat registered there is no need to show the vat element, the gross amount is all you need to enter as you will not be producing a vat return.

Julie

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whiskerspanther


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Thank you both for this. It was something that just came to me. I have worked for vat registered companies so all invoices have been processed net vat and gross. I wasnt sure if you still had to show the vat element on a suppliers invoice even though your client was not vat registered but it does make sense. I will have to make sure I dont get carried away and enter the net and vat. That will make inputting invoices alot quicker!

Thanks again

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lor


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Alison wrote:

Non VAT registered businesses don't have VAT element on invoices.

For example if £30 was spent on petrol then £30 would be posted to the nominal code for fuel and use the correct tax code for this (some people use T0 and some T9).

Alison


On sage T9 will show no vat and no sales figure on the vat return function(where you can produce a vat return form)
T0 will show no vat again but will show a sales figure on the vat return module.


 



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lor


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But as this is not a vat registered client I would recommend using the T9 code as sales figure doesnt need to show up on the vat module.

Really the T0 code and T9 codes are more relevant to vat registered companies.

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