- Location
- S. Staffs
No you don't have to create a contra invoice. Enter the sale of the grain etc at the gross sale price, the n use a line for the deductions, I use one line for both the Weighbridge charge and the levy which both carry 20% VAT and enter this as a negative (minus) value, I code this as 'marketing costs' . If there is a cap load deduction which carries VAT I do the same on another line. Works fine with the VAT form no problem and gives you the nett amount received which reconciles with the bank account.