Difference between revisions of "How do I Post a Fuel Scale Charge?"
From Catalyst
| Line 1: | Line 1: | ||
| − | |||
| − | |||
== Summary == | == Summary == | ||
| − | The following article explains how to post the Vat fuel scale charges you | + | The following article explains how to post the Vat fuel scale charges you may incur by claiming private fuel in company vehicles. |
== More Information == | == More Information == | ||
Revision as of 09:45, 10 May 2010
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>.
- Press <F7> to bring up the Vat Details box.
- Change the "V.A.T" box to 'Output'.
- Change the "V.A.T. Rate" box to '1 - Vat Rate 1'.
- Click [Ok].
- Move to the "Amount" 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.
