Entering just a VAT invoice

Posted by peter.jennifer@gmail.com on August 26, 2006, 1:41 pm

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I'm running QB pro 2005.

I have customers that i need to invoice in Euros and then send a
separate invoice for the VAT. Easy when it's on paper but how do i
enter it in QB? For example i'll invoice somebody for Euros10000 for
some goods and this will be invoice no.1000. Then i'll calculate the
Sterling equivalent of the Euros and invoice for 17.5% of this and call
it invoice no.1000A. It's easy to enter invoice no.1000 but how do i
enter no.1000A with no goods or services and just VAT?

Would welcome any help

Peter

Posted by Peter Saxton on August 27, 2006, 1:19 am

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On 26 Aug 2006 10:41:41 -0700, "peter.jennifer@gmail.com"

>I'm running QB pro 2005.

>I have customers that i need to invoice in Euros and then send a

>separate invoice for the VAT. Easy when it's on paper but how do i

>enter it in QB? For example i'll invoice somebody for Euros10000 for

>some goods and this will be invoice no.1000. Then i'll calculate the

>Sterling equivalent of the Euros and invoice for 17.5% of this and call

>it invoice no.1000A. It's easy to enter invoice no.1000 but how do i

>enter no.1000A with no goods or services and just VAT?

>Would welcome any help

>Peter

Why do you need to send a separate VAT invoice?

--
Peter Saxton from London
peter@petersaxton.co.uk

Posted by Arno Martens on August 27, 2006, 2:19 pm

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On Sun, 27 Aug 2006 06:19:53 +0100, Peter Saxton

>On 26 Aug 2006 10:41:41 -0700, "peter.jennifer@gmail.com"

>>I'm running QB pro 2005.

>>I have customers that i need to invoice in Euros and then send a

>>separate invoice for the VAT. Easy when it's on paper but how do i

>>enter it in QB? For example i'll invoice somebody for Euros10000 for

>>some goods and this will be invoice no.1000. Then i'll calculate the

>>Sterling equivalent of the Euros and invoice for 17.5% of this and call

>>it invoice no.1000A. It's easy to enter invoice no.1000 but how do i

>>enter no.1000A with no goods or services and just VAT?

>>Would welcome any help

>>Peter

>Why do you need to send a separate VAT invoice?

Also, better check legal requirement first. In Canada any invoice over
CAD 30.00 MUST display the GST amount and the GST Number.

If it is permitted in the OP's jurisdiction, he could make a regular
invoice for internal use and then make a copy of the Company QBW file,
make an invoice with a ZERO rated VAT amount for the goods/services and
a separate invoice, again zero rated but for the amount of the VAT and
just put the Description: To charge VAT on Invoice # ...
--
Arno

Posted by peter.jennifer@gmail.com on August 27, 2006, 2:59 pm

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If i make a sale of Sterling1000, then I have to add VAT. Just becuase
I invoice somebody in Euros doesn't mean that I can avoid charging VAT.
But in this case the amount and the VAT would be in different
currencies. For clarity I have done one invoice in Euros and then
another for the VAT (based on the value if the Euros were Sterling).

This is how I've done this pre-QB. But how should I do this on QB? Two
invoices or one?

pete

Arno Martens wrote:

> On Sun, 27 Aug 2006 06:19:53 +0100, Peter Saxton

> >On 26 Aug 2006 10:41:41 -0700, "peter.jennifer@gmail.com"

> >

> >>I'm running QB pro 2005.

> >>I have customers that i need to invoice in Euros and then send a

> >>separate invoice for the VAT. Easy when it's on paper but how do i

> >>enter it in QB? For example i'll invoice somebody for Euros10000 for

> >>some goods and this will be invoice no.1000. Then i'll calculate the

> >>Sterling equivalent of the Euros and invoice for 17.5% of this and call

> >>it invoice no.1000A. It's easy to enter invoice no.1000 but how do i

> >>enter no.1000A with no goods or services and just VAT?

> >>Would welcome any help

> >>Peter

> >

> >Why do you need to send a separate VAT invoice?

> Also, better check legal requirement first. In Canada any invoice over

> CAD 30.00 MUST display the GST amount and the GST Number.

> If it is permitted in the OP's jurisdiction, he could make a regular

> invoice for internal use and then make a copy of the Company QBW file,

> make an invoice with a ZERO rated VAT amount for the goods/services and

> a separate invoice, again zero rated but for the amount of the VAT and

> just put the Description: To charge VAT on Invoice # ...

> --

> Arno

Posted by Peter Saxton on August 27, 2006, 5:51 pm

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On 27 Aug 2006 11:59:59 -0700, "peter.jennifer@gmail.com"

>If i make a sale of Sterling1000, then I have to add VAT. Just becuase

>I invoice somebody in Euros doesn't mean that I can avoid charging VAT.

>But in this case the amount and the VAT would be in different

>currencies. For clarity I have done one invoice in Euros and then

>another for the VAT (based on the value if the Euros were Sterling).

>This is how I've done this pre-QB. But how should I do this on QB? Two

>invoices or one?

>pete

I see no reason for raising two invoices. Just raise an invoice with
Euro's and the sterling conversion. The sterling amounts are what you
enter in the accounts and the total Euro amount is what your customer
pays.

No need to get into two invoice complications.

I don't see what's so difficult about two invoices but it's
unnecessary.

--
Peter Saxton from London
peter@petersaxton.co.uk