vat treatment
Comments
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Is the invoice made to the company?0
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The invoice is made out to our company but we had to pay the deposit quickly so an employee paid it on their card and we reimbursed them.0
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In that case I believe the VAT can be claimed by the company.0
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That’s good news0
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How would I enter the transactions on the purchase ledger. The invoice was £612. £300 paid to employee and £312 to supplier. These are gross figures.0
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Assuming standard rated supplies
Enter purchase invoice
Dr Purchases 510
Dr VAT 102
Cr trade creditors 612
Enter payment of supplier
Dr trade creditors 612
Cr bank 312
Cr other creditors (employee) 300
Reimburse employee
Dr other creditors 300
Cr bank 3001
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