hello,
how to pass entry for the rent contract starting from 15/11/2017 to 14/11/2018
vat was introduced in 2018, under this contract 318 days are vat inclusive.
I want to know how to make entry for the vat return in this case
Enter the rent over two account lines, the first line would have the proportion of rent without VAT + no tax code, the second line would have the proportion of rent with VAT + the tax code.
You make the entry based on the transaction. If you paid in a lump sum then a Spend Money, but if you are going to be making payments over the year, then Purchase Invoice.
