Accounting for a vending machine!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion

Now - where to post this?!

Does anyone have or know how to account for a vending machine at work? HMRC asked me about this a few months ago on our PAYE inspection and I said we charged for them (which we didn't at the time!) We just didn't want the whole BIK's scenario for something so small!

The drinks now cost us approx. 18 pence per cup which we used to sell for 10p but I'm now putting them up to 20p to (hopefully) totally eliminate the loss. The money we used to get went to fill petty cash 'holes' and other minor expenses. However, this could now generate over £3,000 per year.

Should I just introduce this as 'Other income' into the accounts and are there any VAT implications?

Thanks in advance,

Robert

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Accounting for a vending machine!


    Used to deal with this in a staff room scenario and as part of turnover. It was included as other income and yes, there are VAT implications.

    Helen.

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