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Thread: QB - How to capture VAT on imported Goods?

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    Diamond Member Justloadit's Avatar
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    QB - How to capture VAT on imported Goods?

    Using Quick Books, how does one capture an invoice from a shipping company, in which a very large portion of the invoice is VAT on the value of the imported goods, duties and disbursements. There is no VAT on the duty or disbursements.

    The system has been set up with 3 VAT types, VAT included at 14%, Vat excluded at 14% and Zero rated VAT.
    We need to get the VAT figure into the system, so that we can claim the VAT back.
    I have tried to create a new Tax type but have been unsuccessful.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Site Caretaker Dave A's Avatar
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    Which version of Quickbooks are you using?
    The trouble with opportunity is it normally comes dressed up as work.

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    Site Caretaker Dave A's Avatar
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    I think this applies in all Quickbooks anyway when it comes to adding VAT codes -

    Go to Lists > VAT Code List

    At the bottom left Click on VAT Code and there should be a New option.

    If that doesn't work out, it could be because of the permission levels set for the user profile.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Justloadit's Avatar
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    Hi Dave,
    Thanks for your reply. I can not remember what version of QB I am using.
    I have been busy trying to get the year end cleared.
    Will see if I can do this in the new year.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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