AAT FOUNDATION

[Yousouf]

Hello,<BR><BR>I Just have a quick question for you...... If you make a sale to a customer and the customer pays immediately and you then issue an invoice to the customer with the invoice stating that payment has already been made. You put the invoice through the sales day book and then into the main ledger.........<BR><BR>When completing the cash book for the cash payment and then entering into the main ledger you do not extract vat do you because it has already been recorded when entries were made from the sales day book?<BR><BR>I hope that makes since??<BR>

[trainee]

the VAT is entred from the cashbook to the VAT account in the main ledger<BR><BR>I hope this helps<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>

[Yousouf]

But if the invoice that was raised for the immediate payment has been entered into the sales day book then won't the VAT be accounted for when posting form the sales day book to the main ledger?