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Batch Entries of Invoices

13/05/2019 11:08:20
Good Afternoon,

We buy dozens of things on a credit card each month, at the end of the month we pay the credit card bill by direct debit.

In our accounts spreadsheet, we enter the total amount spent on the credit card (Net, Vat & Gross) for that month along with the date we paid the credit card bill.

Is this adequate for our records under MTD record keeping?

Someone has suggested that we would have to enter “each” transaction into the spreadsheet along with the item cost and transaction date. Is this correct?

If the above is correct, would this also mean if we bought goods several times a week from a supplier on account, then paid their bill at the end of the month, we would have to list individual items, their cost (Net, Vat & Gross) and the dates we bought them as separate entries?
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Re:Batch Entries of Invoices

13/05/2019 13:11:50
Hi

For each supply you receive you must record the:
• time of supply (tax point)
• value of the supply
• amount of input tax that you will claim

Where a supplier issues a statement for a period you may record the totals from the supplier statement (rather than the individual invoices) provided all supplies on the statement are to be included on the same return and the total VAT charged at each rate is shown.

You can find more information on the information you must record for supplies received, and the use of supplier statements, in Sections 4.3.3 & 4.3.3.1 of the VAT Notice on Making Tax Digital, which you can view online at:
VAT Notice 70022

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Batch Entries of Invoices

13/05/2019 14:16:52
Thank you for your reply. That has clarified the situation for me.

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