Business - How to Not use Invoices?

[Liz]

On Mon, 04 Jul 2016 17:30:23 +0100
"Maf. King" <maf at chilwell.net> wrote:

> Nope, you can just record them as normal transactions, but you have
> to manually split the VAT portion into the relevant VAT account.
> 
> eg:
> Buy £60 fuel on credit card
> Credit card: £60
> Expenses:Fuel:£50
> Vat:Box4 £10
> 
> (assuming 20% VAt as in the UK) - I've given up trying to get the
> columns correct in emails... hopefully you get the idea though.

My method...
For 10% GST - change the values as required

Start the entry from the paying account (say credit card)
Enter the date, the seller, start with Expenses:Fuel and put in the
total 60.00
now Split the transaction

on the Expenses:Fuel line now make it
60.00/11*10

USE The UP or DOWN Arrow

You now have a value which doesn't belong to anything in the accounts,
which is 60.00/11 in this example

Call this GST / VAT 
all is balanced and you can hit ENTER

Liz