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We have an issue here in that we need to pay a proforma invoice today.
However as it is a proforma invoice we can not reclaim the VAT element until we receive a vat invoice.
So does anybody know how to enter and pay the invoice (including the VAT element) without the Vat element appearing on the VAT return until we receive the vat invoice?
Hope that makes sense
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Hi - all you want to do is pay the Creditor in advance? The payment itself does not generate any VAT data. So issuinga payment isn't a problem.
You can pay the Creditor and when the actual invoice comes in, post that (with the VAT analysis) and apply it to the 'pre-payment'.
Untill you post the Invoice of course, your creditors account will show an overpayment. You could maybe post the ProForma invoice (with a zero VAT tax detail)...and reverse it with a credit note, when the real invoice comes in?
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