Invoice with Vat Uk - PDF

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					How to input a VAT only invoice
Example of a VAT only invoice




To calculate the net amount when you only have the VAT amount, you need to do the following
calculation:

For 17.5%:
    • Divide the VAT amount by 7 then times by 40 to get the net amount. (see example below)
For 15%:
    • Divide the VAT amount by 3 then times by 20 to get the net amount.

This can then be filled in on the payment slip in the normal way
You will need to credit the net amount back out leaving only the VAT to be paid/accounted for.
Any additional items on the invoice can be entered in the normal way.

Example of a completed payment slip for the above invoice.



     VAT
     code
    should
      be
     SN,
    SR or
      SP


      VAT
     code
    should
    be OS
       as
     there
     is no
    supply




If you have any further queries, please contact the Payments Team on extn 3743 or email
payments@exeter.ac.uk, or contact Liz Shillingford on extn 3098 or email E.E.Shillingford@exeter.ac.uk

				
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