Methods of Entering VAT

There are a number of different options for entering VAT.

NOTE: In all but one case (5), you do not have to enter special lines for VAT postings - they are generated for you.

See the Sample Spreadsheet section for examples of the various methods.

1. Enter an Invoice Gross Total, VAT Total and Nominal Distribution Lines and VAT Codes

This method is automatically used if:

  • VAT Amounts and VAT Code ranges are present
  • Invoice gross and invoice vat ranges are present.
  • The VAT Allocation is run. This populates the VAT amounts on the spreadsheet based on the entered net amounts, the VAT total and vat code percentages.

VAT lines are added automatically by Excelerator when posted.

Invoice gross and vat total figures are entered. The VAT is apportioned to the net nominal distribution lines based on their value and the VAT Code by selecting the Allocate VAT option from the menu.

Allocate VAT Menu

This method ensures that the total VAT always matches that given on the invoice.

2. Enter the VAT Code, VAT Amounts are calculated from Net and VAT Codes before posting

This method is automatically used if:

  • VAT Amounts and VAT Code ranges are present
  • No invoice gross and invoice vat ranges are present.
  • The VAT Allocation is run. This populates the VAT amounts on the spreadsheet based on the entered net amounts and vat code percentages.

VAT lines are added automatically by Excelerator when posted.

3. Enter the VAT Code, VAT Amounts are calculated from Net and VAT Codes on posting

This method is automatically used if:

  • VAT Code ranges are present. VAT Amounts are not.
  • No invoice gross and invoice vat ranges are present.
  • The VAT Allocation is NOT run

VAT lines are added automatically by Excelerator when posted.

4. Enter the VAT Amount for each Nominal Distribution Line

This method is automatically used if:

  • VAT Amounts and VAT Code ranges are present
  • No invoice gross and invoice vat ranges are present.
  • The VAT Calculation is not run

Manually enter the VAT amount against each net line. The VAT NL line will be automatically added by Excelerator when posted.

5. Enter Goods and VAT Lines Manually using G/V Indicator

This method is automatically used if:

  • The Goods/VAT Indicator is present.
  • No VAT Amount is present
  • No invoice gross and invoice vat ranges are present

The user manually enters VAT postings by specifying "V" in the Goods VAT indictor for a line, in a similar fashion to data entered in Sage Enterprise. VAT lines are NOT added by Excelerator.