Understanding the 'transfer' list of options...
Maf. King
maf at chilwell.net
Tue Aug 28 18:36:04 EDT 2012
On Tue 28 August 12 04:03:54 Expert_wannabe wrote:
> Firstly, a big thank you to both Colin and Maf for your replies.
> I really appreciate it.
>
> I've spent quite a few more hours 'playing' with this since posting.
>
> Maf...
> You mentioned that you put VAT items into somewhere and used 'split'
> I would assume that if I put an expense into e.g Expenses:VAT
> Purchases:Office, that it would automatically take 20% off and stick it
> somewhere else for VAT purposes!!
> Is that not the case? and if not, then do I have to do a 20% manual
> calculation for everything I do and move it to separate accounts?
>
> If I have to do that, then I'll probably go back to using Excel, it will be
> easier.....
Hi Larry,
In addition to the exellent answers by Colin & Liz, I will add that the
"business features" module can handle automatic VAT calculations for Invoices
and Bills. It takes a wee bit of setting up, in that you have to go through
and create tax rate tables and vendors etc. as needed and learn a different
workflow. The docs cover this IIRC.
HTH,
Maf.
>
> Thanks again
> Larry.
>
>
>
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Maf. King
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