Pastel journal on Motor Vehicle Purchased and Motor vehicle sold

[CharleneHyman]

Hi All,

My name is Charlene and I am n freelance bookkeeper, still busy doing my 3 year diploma.

I have the following scenario:

1st: Vehicle was sold - need to pay the VAT over ( How do I do the pastel journals regarding VAT? and that the tax type report shows it correctly)
2nd: New Vehicle bought - need to claim VAT ( basically the opposite as above)


Kidn Regards
Charlene

[CindyEvansFinney]

Hi,
I stand to be corrected but I would think best way instead of just doing a journal:
1. Raise a Tax invoice for the vehicle sold - this will then allocate the VAT output amount automatically to your vAT report
2. Raise a supplier invoice - this will then allocate the VAT input amount automatically to your VAT report
On the invoices you can at least type in Vin numbers etc. etc. to make it more official as doing the journal you won't have much space.