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How Do I Enter A VAT-Only Purchase Invoice?

Occasionally, invoices are received in which there is no cost, only VAT – e.g. for insurance or asset finance arrangements.

These can be posted in the usual way, simply by entering the same value for the Gross amount and the VAT amount, both being the amount of the supplier invoice.

Depending on the software parameters, you might have to take care to enter or override some default pre-populated values, e.g. VAT amount, Nett amount, VAT code and Nominal Analysis code, and acccept warnings about the entered VAT amount being different from the calculated VAT amount.

  1. Enter the total invoice amount into the Gross amount .
  2. The software will calculate the VAT as if the invoice was a standard VAT invoice.
  3. Highlight the VAT amount and overwrite the VAT figure with the VAT amount.
  4. Click OK to get the Details page.
  5. As there is no Nett to enter just click on OK to save the invoice.