Regarding tax or vat in the UK, is it necessary to enter this seperately to the total figure i.e.
£100 plus vat of 17.5% (£17.50) and £117.50? I assumed the program would calculate this on it's own as it is automatically calculated on the invoices and pro forma etc. If it does in fact do this, how can I see the vat?
Also confused as to how to enter: sample:
Buying an item to sell (Cost of Sale) - should this be entered under Payments or purchases? To me they are the same thing... not sure.
Tax Calculations
in Express Accounts
Posted
Regarding tax or vat in the UK, is it necessary to enter this seperately to the total figure i.e.
£100 plus vat of 17.5% (£17.50) and £117.50? I assumed the program would calculate this on it's own as it is automatically calculated on the invoices and pro forma etc. If it does in fact do this, how can I see the vat?
Also confused as to how to enter: sample:
Buying an item to sell (Cost of Sale) - should this be entered under Payments or purchases? To me they are the same thing... not sure.
payments, receipts, sales, purchases
Thanks to anyone out there ....