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Subject Author Date
VAT flat rate scheme David Wood 09-05-2006
Posted by David Wood on September 5, 2006, 5:24 pm
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 Anyone using the flat rate VAT scheme with Quickbooks?
Any info on setting this up appreciated, I've not worked out how to do it
yet except on a spreadsheet



Posted by Peter Saxton on September 5, 2006, 6:42 pm
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 wrote:

>Anyone using the flat rate VAT scheme with Quickbooks?
>Any info on setting this up appreciated, I've not worked out how to do it
>yet except on a spreadsheet
>
You don't track VAT. Sales will be 117.50 not Sales 100.00 and VAT
17.50. Expenses are 117.50 not Expenses 100.00 and VAT 17.50. The VAT
paid is shown as a separate expense.

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

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