SageForum for UK versions of Sage 50- Help and support.

Hi, I need to know how to post VAT Penalties levied, i.e. Nominal Code etc., I'm assuming these should not be entered under VAT Liability.

Thanks

You need a cost account in the P&L (I would put it around 79xx) you journal CR to that account and DR to 2202
(if you are on a recent version of sage 50 and use the VAT adjustment option this puts it to 2204 so you journal to that account instead of 2202 and the account should zero out after the journal)