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How do I record VAT on import of goods for my bills?
VAT has to be charged on the import of goods if your supplier is based out of the UK. While creating a bill for such cases, you will have to select Overseas as the VAT treatment. Once you’ve created the bill, you can record VAT on import. To do this:
- Create your bill with the VAT treatment as Overseas.
- Click the More dropdown in the top right corner.
- Click Record Import VAT.
- Enter the Entry Number, Date, Paid Through account, etc,.
- Click Save.