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Accounting for VAT on Sage 50 as a Principle Contractor

  • 19-02-2019 01:26PM
    #1
    Chevy RV
    Registered Users, Registered Users 2 Posts: 468 ✭✭


    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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