How do I enter my VAT payment?

Summary

This article explains how to post the Journal to reduce the amount of Vat you have outstanding when you pay the HMRC.

More Information

Go to " Nominal Ledger Journal Entries".

• At "Entry mode", choose 'Cashbook'.
• At "Money in/out", Set this to 'Out'.
• On the highlighted line, enter the Bank Account nominal centre,

Z992

• On the next line:
  • Enter Vat Outstanding centre code to post the other side of the entry.

Z999

• • Enter the date your are making the Vat Payment.
  • Enter the value of the transaction from Box 5 on your VAT 100 report.
  • Enter a comment

VAT Payment QTR 2

The centres on the other lines will NEVER be the same nominal centre code as at the top of the screen! If they are, you will get a circular posting that does nothing.

See also

• Posting Cashbook entries
• The Banking Journal

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Keywords AND Misspellings

Journal, Journals, VAT, V.A.T., End, Quarter, QTR, CASHBOOK, PAYMENT