Difference between revisions of "How do I Post a Fuel Scale Charge?"
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*Select {{Button|Multiple}} for the {{DataPrompt|Entry mode}}. | *Select {{Button|Multiple}} for the {{DataPrompt|Entry mode}}. | ||
*Enter a date within the V.A.T. quarter for which you are making the entry. | *Enter a date within the V.A.T. quarter for which you are making the entry. | ||
− | *Enter the overhead centre for Motor Expenses (Centre {{DataValue|15304}} - Motor Expenses if you are using the standard Platinum nominal centres) and press {{KeyPress| | + | *Enter the overhead centre for Motor Expenses (Centre {{DataValue|15304}} - Motor Expenses if you are using the standard Platinum nominal centres) and press {{KeyPress|ENTER}}. |
− | *Enter the full amount (Including V.A.T.) of the Fuel Scale Charge (e.g. £483) and press {{KeyPress| | + | *Enter the full amount (Including V.A.T.) of the Fuel Scale Charge (e.g. £483) and press {{KeyPress|ENTER}}. |
− | *Enter the comment as {{DataValue|Fuel Scale Chg}} and press {{KeyPress| | + | *Enter the comment as {{DataValue|Fuel Scale Chg}} and press {{KeyPress|ENTER}}. |
− | *Enter the same centre as above and press {{KeyPress| | + | *Enter the same centre as above and press {{KeyPress|ENTER}}. |
− | *Enter the full amount (Including V.A.T.) as a negative figure ({{DataValue|-}}) of the Fuel Scale Charge (e.g. -£483) and press {{KeyPress| | + | *Enter the full amount (Including V.A.T.) as a negative figure ({{DataValue|-}}) of the Fuel Scale Charge (e.g. -£483) and press {{KeyPress|ENTER}}. |
*Change the {{DataPrompt|V.A.T Indicator}} drop down box to {{Button|Output}}. | *Change the {{DataPrompt|V.A.T Indicator}} drop down box to {{Button|Output}}. | ||
*Change the {{DataPrompt|V.A.T. Rate}} drop down box to {{Button|1 - Vat Rate 1}}. | *Change the {{DataPrompt|V.A.T. Rate}} drop down box to {{Button|1 - Vat Rate 1}}. | ||
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* [[Posting Journals]] | * [[Posting Journals]] | ||
− | {{KB_Tags| | + | {{KB_Tags|fuel, scale, charge}} |
+ | {{KB_NL}}{{ZN_Accounts}} | ||
{{KB_Ref|NL05}} | {{KB_Ref|NL05}} |
Revision as of 12:15, 21 December 2018
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".
- Select [Multiple] for the "Entry mode".
- Enter a date within the V.A.T. 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 V.A.T.) 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 V.A.T.) 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
NL05