wakey
3rd July 2009, 09:42
A few details
I'm Not VAT registered
I use Solar Accounts
I'm a Sole Trader
I bought some Stationary for the Business, I entered it into Solar Accounts as a Purchase Invoice. Rather than enter 1 Line with the final value I entered each item on 1 line. However as I am not VAT registered the final value doesn't match
Should this be the case? It makes matching it up with Bank Account difficult as the values don't match.
If I should be recording the whole amount as an expense how best should I go about this. Should I just record the whole value on 1 line rather than itemise it OR should I add a VAT line on Purchase Invoice? If I record it on a line what account should the VAT go in (The rest of the lines have gone in Postage and Stationary)
I'm Not VAT registered
I use Solar Accounts
I'm a Sole Trader
I bought some Stationary for the Business, I entered it into Solar Accounts as a Purchase Invoice. Rather than enter 1 Line with the final value I entered each item on 1 line. However as I am not VAT registered the final value doesn't match
Should this be the case? It makes matching it up with Bank Account difficult as the values don't match.
If I should be recording the whole amount as an expense how best should I go about this. Should I just record the whole value on 1 line rather than itemise it OR should I add a VAT line on Purchase Invoice? If I record it on a line what account should the VAT go in (The rest of the lines have gone in Postage and Stationary)