If you wish to add a transaction/receipt with a Zero value, but with a custom VAT figure.
1 – Enter a Purchase Invoice (Standard Tax Rate)
For Qty: 1, Unit Price £1000, Nominal Code (mispostings or other), Tax Rate: Standard VAT 20% (VAT will then calculate as £200)
2 – Enter a Purchase Credit (0% Exempt Transactions)
For Qty: 1, Unit Price £1000, Nominal Code (mispostings or other to match the nominal code in step 1 above), Tax Rate: Except Transactions (0%) (VAT will then calculate as nil and the £1000 will net off against the £1000 posted in step 1 above).
The result of this will be £200 in the Purchase Tax Control account that will appear in the VAT return, the £1000 in the Purchase Invoice and the Purchase Credit will net off in the purchases and box 7 of the VAT return.
3 – Bank Allocate Credit and Payment on Account to Invoice
To ensure the Supplier Account balance is correct and the Purchase invoice is settled correctly, please go to Bank>Allocate Credit and Payment on Account to Invoice, find the Supplier Account and Allocate £1000 to the Purchase Invoice (From Step 1 above) from the Purchase Credit in Step 2 above.
4 – Enter a Bank Supplier Payment
Please select the appropriate Bank Account, Select the Supplier account and enter your £200 payment against the outstanding Purchase Invoice.
You should consult with your accountant and test the procedure in your Sandbox prior to implementing in your live system. Check your Supplier Balance, Bank Account Balance, Trial Balance and VAT returns before and after you implement this procedure.