Vat| Only Invoices

andrew-warden

Hi

I have a user  who imports journals and the vat element does not go to vat control but to a suspense account

What is the  best way to import this journal so the vat element is shown on the VAT return

Do they need to create a vat only vat code  if so how is this achieved

Regards

Andrew

fzw

Hi

This is the import I created for demo data.

Header

NH_REF	NH_DATE	NH_NARR	NH_DRTOT	NH_CRTOT	NH_VATANAL
IMPJ0002	30/04/2023	VAT Only	500	500	T

Details

ND_REF	ND_ACCOUNT	ND_DRAMNT	ND_CRAMNT	ND_COMM	ND_VATTYP	ND_VATCDE	ND_VATVAL	ND_TAXDATE
IMPJ0002	K110	0	500	VAT Only Import	S	1	500	30/04/2023
IMPJ0002	C110	500	0	VAT Only Import	N	N	0

What is posted is a credit to E220 (VAT Sales) for 500 and a debit to C110 (Trade Debtors) of 500. This only shows in box 1 on the VAT return with a value of 500.

If their import is similar to this I would check the VAT code and make sure it has a valid nominal code attached.

Kind Regards

Felicity