What you need to know You use journal entries when you want to move values from one ledger account to another. By default, journals do not appear on the VAT return. However, you can include VAT on your journals and report them on the VAT return, if required. Include a journal on a VAT return When you enter the journal, choose the check box in the Include VAT Return column. Each line of the journal uses the VAT Rate set on the selected ledger account. Each ledger account has its own VAT Rate. Read more about setting VAT Rates on ledger accounts. How the journal affects the VAT return The following table explains which box on the VAT return updates after entering a journal. This is determined by a combination of the ledger account and whether the journal line is a debit or credit. | Ledger Account | Default Nominal Code | Credit or Debit | Affects the VAT Return | | VAT on sales | 2200 | Credit | Increases Box 1 | | VAT on sales | 2200 | Debit | Decreases Box 1 | | VAT on purchases | 2201 | Credit | Decreases Box 4 | | VAT on purchases | 2201 | Debit | Increases Box 4 | | Any other ledger account | | Credit | No effect | | * Any other ledger account | | Debit | No effect | [BCB:299:UKI - Personal content block - Dane:ECB]
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