Difference between revisions of "How do I Post a Fuel Scale Charge?"
From Catalyst
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*Enter the same centre as above and press {{KeyPress|Enter}}. | *Enter the same centre as above and press {{KeyPress|Enter}}. | ||
*Enter the full amount (Including VAT) as a negative figure ('''-''') of the Fuel Scale Charge (e.g. -£483) and press {{KeyPress|Enter}}. | *Enter the full amount (Including VAT) as a negative figure ('''-''') of the Fuel Scale Charge (e.g. -£483) and press {{KeyPress|Enter}}. | ||
| − | + | *Change the {{DataPrompt|V.A.T Indicator}} drop down box to {{DataValue|Output}}. | |
| − | *Change the {{DataPrompt|V.A.T}} box to {{DataValue|Output}}. | + | *Change the {{DataPrompt|V.A.T. Rate}} drop down box to {{DataValue|1 - Vat Rate 1}}. |
| − | *Change the {{DataPrompt|V.A.T. Rate}} box to {{DataValue|1 - Vat Rate 1 | + | *Move to the {{DataPrompt|Amount}} of the second line and press {{KeyPress|F4}}. This will calculate and deduct the V.A.T. from the amount. |
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| − | *Move to the {{DataPrompt|Amount}} and press {{KeyPress|F4}}. This will calculate and deduct the V.A.T. from the amount. | ||
*Press {{KeyPress|ESC}} and accept the posting. | *Press {{KeyPress|ESC}} and accept the posting. | ||
Revision as of 15:09, 27 May 2014
Summary
The following article explains how to post the Vat fuel scale charges you may incur by claiming private fuel in company vehicles.
More Information
Go to " Systems\Accounts Nominal Ledger Journal Entries Multiple Entries".
- Enter a date within the Vat quarter for which you are making the entry.
- Enter the overhead centre for Motor Expenses (Centre 15304 - Motor Expenses if you are using the standard Platinum nominal centres) and press <Enter>.
- Enter the full amount (Including VAT) of the Fuel Scale Charge (e.g. £483) and press <Enter>.
- Enter the Comment as Fuel Scale Chg and press <Enter>.
- Enter the same centre as above and press <Enter>.
- Enter the full amount (Including VAT) as a negative figure (-) of the Fuel Scale Charge (e.g. -£483) and press <Enter>.
- Change the "V.A.T Indicator" drop down box to 'Output'.
- Change the "V.A.T. Rate" drop down box to '1 - Vat Rate 1'.
- Move to the "Amount" of the second line and press <F4>. This will calculate and deduct the V.A.T. from the amount.
- Press <Esc> and accept the posting.
This will show the cost of the scale charge in your Motor Expenses account on the Profit & Loss, increase your V.A.T. liability on the Balance Sheet, and make the correct entries on your VAT100 report for your V.A.T. return.
See also
