how to process payemnts for flat rate scheme vat

how do you process expenses for flat rate scheme purposes on quickbooks


You cannot use No Vat as your reporting will be incorrect as No Vat does not record any vat you have paid.

You need to record all expenses as 20% paid if that is what you are billed.

Your link deals with capital assets which can be reclaimed and there is a specific method to handle this within QB and it does recover any Vat paid on a asset purchase of over £2000..

For FRS Vat Read Notice 733 section 7.2 where it defines the record keeping.

Relevant Goods is the expenses.

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