VAT-only invoice
PaulLastBorn
Member Posts: 1
I realised that I didn't add VAT to a line item on an older invoice (applying VAT to all line items would a helpful feature).
So my accountant tells me I can send the client a VAT-only invoice.
So I need the product cost to be nil and the VAT to be £590.
Any bright ideas about how to do that in Wave?
Thanks
Paul
0
Comments
Hey @PaulLastBorn , there's no way to apply a Sales Tax to an invoice without a product item as well. Alternatively, you could create a product worth 590 and then once you get paid for it Journal it out of the income account it's associated to and into your Vat account. Definitely requires some additional work but it should work.
Your accountant should also be able to help you track this if it's the route you decide to take.