Capitalisation and VAT
Sorry if I'm being dense. I understand why VAT is not part of the Capitalised figure if you can reclaim it. The example I have been given puts ex vat cost through Bank and onto Machine at Cost in Ledgers. Fine. How do I record VAT amount which does come out of the Bank Account even if it is reclaimed at a later date. Otherwise I am not going to be able to reconcile surely?
0 · Share on Google+