MYOB VAT question

Discussion in 'UK Accountancy' started by D.M. Procida, Jul 11, 2003.

  1. D.M. Procida

    D.M. Procida Guest

    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.M. Procida, Jul 11, 2003
    #1
    1. Advertisements

  2. D.M. Procida

    D.M. Procida Guest

    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
     
    D.M. Procida, Jul 14, 2003
    #2
    1. Advertisements

  3. D.M. Procida

    Peter Saxton Guest

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



     
    Peter Saxton, Jul 14, 2003
    #3
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.