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Accounting for VAT on Sage 50 as a Principle Contractor

Chevy RV · 2019-02-19 12:26:10

Hello There, I am setting up Sage 50 for a main contractor in Ireland. If a Subcontractor issues us with say a €100,000 invoice - we have to account for the VAT on it at 13.5% i.e. €13,500. This is in effect a reverse charge that should not effect our VAT3 at all. Can anybody out there please tell me how to set this up in…

19-02-2019 12:26pm

#1

Chevy RV

Registered Users, Registered Users 2 Posts: 467 ✭✭

Join Date: March 2007

Posts: 335

Hello There,

I am setting up Sage 50 for a main contractor in Ireland.

If a Subcontractor issues us with say a €100,000 invoice - we have to account for the VAT on it at 13.5% i.e. €13,500.

This is in effect a reverse charge that should not effect our VAT3 at all.

Can anybody out there please tell me how to set this up in Sage Line 50 so out VAT3 & RTD's are correct going forward?

Any help you can provide would be very much appreciated.

Regards,

Chevy RV

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