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The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Quick VAT issue bad debts
Post Info TOPIC: Quick VAT issue bad debts
tonys


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Quick VAT issue bad debts
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If I claim the VAT back (after 6 months) on a bad debt, how do i do the journals on sage?

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RobH


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Enter a credit note but put bad debt nominal ledger code (8100), taht will write off the debt from the sales ledger and claim back the vat.

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Rob
www.accounts-solutions.com
tonys


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I get it, a credit note would reverse the whole transaction but of course the debt has moved fron the Dedtors conrtol account to the bad debt account .
That it?
Thanks Rob



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RobH


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That's it Tony, no problems

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Rob
www.accounts-solutions.com
tonys


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Rob
Meant to say to all that wished me luck for my interview Accounts Assistant Fri, sadly my Dad died (He was 80 so not bad innings) in the middle of the night Thurs so I missed interview, but I am just on my way for new interview slot now
Let you Know
Tony

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RobH


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Oh sorry to hear that Tony, but good luck with interview.

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Rob
www.accounts-solutions.com
Shamus


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Sorry to hear your news Tony.

That they've rescheduled for you is a definite good sign.

Good luck with it.

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
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