Our EPOS system hits our statement every day without fail. I tag the entries on the statement to a nominal code within the sales range. Unfortunatly, these amounts do not show VAT. I have the VAT amounts, but I am struggling to journal these amounts so they are included in the VAT return figures. Please advise.
Do you know the VAT amount, gross amount, net amount, or none of these?
Would it show, for example, £100 (inc 20% VAT)?
£100 (inc 20% VAT)
All of these.
Although the amount taken hits the account in one lump, EPOS will print us a report showing full breakdown.
In that case, you would just create a sales invoice to account for it, and include a new line for each VAT amount, similar to the below:
Or alternatively, if you know the VAT total, you may find our daily sales tool helpful:
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