Adding VAT to a purchase?

Sirving575 · 23 February 2016 08:26

When I “create a purchase” I would like to be able to add the VAT amount, or rather let Quickfile calculate it, the same as it does when creating an invoice?

QFMathew · 23 February 2016 08:46

Hi @Sirving575

Are you VAT registered? If you are, make sure this is set up under Account Settings > Company Settings.

If you’re not, you don’t need to (and shouldn’t) record VAT against any of your purchases or sales as they have no accounting value.

I hope that helps!

Sirving575 · 23 February 2016 09:19

Hi
Yes I’m VAT registered and I have listed this within the account settings?

Glenn · 23 February 2016 09:55

Are you on Flat Rate VAT?

If you have VAT accounting enabled the VAT column should be there in the purchase entry screen. The only reason it would be hidden is if you’re on the FR scheme, where reclaiming VAT is only possible in some limited cases.