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How do I record an expense for a VAT return payment that I have made on behalf of the company?
Background; I have previously made a VAT return payment that I need to reclaim from the company, but there does not appear to be an expenses category that is appropriate for this use. What is the best way of recording this?
I have seen a previous response to a similar question from six months ago (this thread) - is this still the only way of recording this in FA? (seems a bit messy as you need to create bank transactions that don't actually exist)
Thanks!
Charles
I have seen a previous response to a similar question from six months ago (this thread) - is this still the only way of recording this in FA? (seems a bit messy as you need to create bank transactions that don't actually exist)
Thanks!
Charles
I’m anxious
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Inappropriate?Hello Charles,
Because this is quite unusual (it's more likely for the company to pay the VAT than for the individual), you would need to use the workaround as explained by Olly on the previous thread to do this in FreeAgent.
Please let me know if you get stuck with this.
Kind regards,
Emily -
Inappropriate?Hi Emily
Ok, thanks for your response; I was just hoping there might be an easier way of recording this now.
(usually the company would make payment directly, but this time round I used my personal card due to tight timing this month!) ;-)
Thanks for your help
Charles
I’m thankful
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Inappropriate?Hello Charles,
I see - and the VAT man does get upset if you keep him waiting!
Please don't hesitate to ask again if you get stuck with anything else.
Kind regards,
Emily
EMPLOYEE
