User guide

p35
Big Red Book Accounts v5
Setup: Reverse Charge VAT
Reverse Charge VAT
(applies in Republic of Ireland only)
Purchases
entered as ‘Reverse Charge VAT’ are automatically included in the T1, VAT on Sales, section of
the Standard VAT Report, it will also be included in T2, VAT on Purchases, when ‘Credit Input for Reverse
Charge Vat?’ is selected. The Nominal Account to Debit for Reverse Charge Vat can also be selected here.
Principal Contractors
/
Purchaser:
to enter a Purchase subject to Reverse Charge VAT see Reverse
Charge VAT.
Sub-Contractors / Seller:
to generate a Reverse Charge VAT Sales Invoice see Reverse Charge VAT
Invoice
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