Accounts Payable & VAT

[Dazzler]

Hi there

To what extent do you put receipts/non A4 sized invoices into the books (i.e dr. expense cr. creditors) before doing the bank rec jnls (dr creditors cr bank). Is it for all receipts/invoices with a Vat number that you can claim Vat back?

I have left out receipts for food and beverages and postage stamps as they are not subject to vat. I will just process them through the bank (i.e. dr postage/food and beverages cr. bank)

Also where items are paid for through a debit card but a receipt/invoice is not given and therefore you do not have a VAT number, is it possible to claim back the VAT?
The example here is for pre-paid top up of mobile phone credit.

 

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In accordance to the Her Majesty Custom & Inland Revenue certain items are exempt fro VAT so post those non A4 sized invoices without VAT as "T0" normally into the accouting software,"T1" for invoices with VAT of 17.50% or is it 20% now, and carefully on this one heating & gas "T5" for 5%. Yes debit expenses and credit suppliers and make the necessary bank reconciliation.

It depends on the size of these transactions then you would need to find an accounting junior and pay him for the temping work in the interim.
I forgot to tell you raise a pettycash float for the food, beverages & postage stamps and make the entries through the petty cashbook. It may be a tedious work but it does work efficiently if you hire a temping junior.