How can I account for reverse charged services?

[QFMathew]

Hi @chmac

How you manage this is up to you. Project tags seem to work - I’m aware of a few users who use this method.

The only thing you would need to do is make an adjustment when it comes to your VAT return. @ian_roberts outlines this in his post, along with another method that he uses:

VAT Act 1994 Section 55A applies

QuickFile doesn’t have native support for reverse charging services, what I do is mark the supplier as “VAT registered in another EU member state” (even though they aren’t). This enables the reverse charge checkbox on their purchases, but treats it as an acquisition of goods rather than a reverse charge for services, so when you come to submit your VAT return you need to apply manual adjustments to move the VAT from box 2 to box 1 and the net from box 9 to box 6. This doesn’t change the total …

I hope this helps