MYOB VAT question


D

D.M. Procida

I'm using MYOB to keep the acocunts for a small non-profit organisation.
It's not registered for VAT, but sometimes we get invoices which include
VAT.

How should I handle this in MYOB? It's tedious to go through all the
lines of an invoice adding VAT to each manually when the invoice doesn't
show the VAT-inclusive value of each line.

Secondly, should I record purchases with a VAT code of N-T (no tax) or
should I just set the Standard VAT rate to 0%?

Thanks for suggestions.

Dnaiele
 
D

D.M. Procida

Are you needing to post each line of an invoice individually? What are
these invoices for?
Rack space and bandwidth. So we'll get an invoice saying (say):

Rackspace: £100
Bandwidth: £100

Total: £200
VAT: £35

Total inc. VAT: £235

For us those line items are really £117.50 each, because we can't do
anything with VAT except treat it as part of the price of the stuff
we're purchasing. So what I'd like is to tap '100' in MYOB in the
appropriate places and have it know that it should automagically become
£117.50, instead of having to get out my calculator.

But I don't think it can be done in MYOB. It's not that great a problem
for us, but it would be a nuisance if you were not registered for VAT
and did much buying from VAT-registered suppliers.

Daniele
 
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P

Peter Saxton

Rack space and bandwidth. So we'll get an invoice saying (say):

Rackspace: £100
Bandwidth: £100

Total: £200
VAT: £35

Total inc. VAT: £235

For us those line items are really £117.50 each, because we can't do
anything with VAT except treat it as part of the price of the stuff
we're purchasing. So what I'd like is to tap '100' in MYOB in the
appropriate places and have it know that it should automagically become
£117.50, instead of having to get out my calculator.

But I don't think it can be done in MYOB. It's not that great a problem
for us, but it would be a nuisance if you were not registered for VAT
and did much buying from VAT-registered suppliers.

Daniele
I think you just have to do the calculation. You could always phone
MYOB technical support.



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