Tagging VAT expenses from bank feed

Is there any way to tag VAT expenses from the bank feed straights to its nominal account and onto the VAT report without creating hundreds of suppliers?


VAT returns in QuickFile are based off the sales and purchase invoices so you do need to create purchases but you don’t necessarily have to create separate supplier records if you don’t want to - you could just have generic dummy suppliers, either one for everything or one for each category of expenses.

As long as the numbers are accurate and you can lay your hand on the original invoice from the supplier for any given transaction, exactly how you choose to record things in QuickFile isn’t so important.

I would personally stick to creating proper supplier records for any supplier from whom you take credit (e.g. where you get several invoices through the month and pay them all off in one lump payment) simply because it makes it easier to get an overview of how much you owe to each one, but for ad-hoc purchases paid immediately a generic supplier is simpler.

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