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
• Divide the VAT amount by 7 then times by 40 to get the net amount. (see example below)
• 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.
If you have any further queries, please contact the Payments Team on extn 3743 or email
email@example.com, or contact Liz Shillingford on extn 3098 or email E.E.Shillingford@exeter.ac.uk