To write a VAT-only Receive Money transaction

If you haven't already read the Receive Money Overview, see Creating VAT-only Receive Money transactions for more information.

Idea: Learn about the Receive Money window before continuing

If you need more detailed information about this window, refer to steps of the Receive Money process starting with Step 1, Select the account where the money from the Receive Money transaction will go, while you perform the steps for creating a VAT-only Receive Money transaction.

  1. Enter details about the transaction in the top of the window as you normally do; enter the tax amount to be received in the Amount field.
  2. Enter an allocation account in the scrolling list in the middle of the window.
  3. Enter £0.00 in the Amount column in the scrolling list.
  4. Enter the appropriate tax code for the transaction in the tax column, then click the zoom arrow next to the tax field below the scrolling list.
  5. Enter the new tax amounts in the tax column, and click OK to close the tax Information window.
  6. Click Record.