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vat receipts recorded as invoice?

  • 58 posts
  • # 90102

Hi,

I wonder can anyone advise me what is the best way to record fuel vat receipts and general van expense vat receipts on Sage 50 Accounts.

My boss is now recording these seperately in the bank statements as Bill Payments i.e. diesel or mirrow etc

I'd really appreciate a step by step guide to turning these receipts into invoices for the purpose of recording the payments on Sage.

Thank you in advance

Jo'Anne 
  • Member
  • Practice Licence
  • 18 posts
  • # 90103

General rule is that the receipt will have to be a vat receipt, with the suppliers vat number on it and the vat amount. There are rules that allow you to claim the vat below  £25 on a receipt with limited info, but I would not get into this habit.

If they are being paid directly from the bank I would put  them through as bank payments and ensure there is a reference in Sage to audit them back to  the receipts. You do not need to turn them into invoices on Sage.

There is also the consideration of personal use for the mileage as well and the implications of that on the business if the owner is using the van for private mileage. 
  • 58 posts
  • # 90104

Thank you,

That is nice and simple - only got one receipt without a vat number on it - but I'm hoping we can get the car wash people to give it to us later.

Jo'Anne 
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