How to record VAT on petty cash
Take the VAT out of a till receipt, write up the analysed petty cash book and post the column totals.
Task 1Finding the VAT in a receipt3 questions
A till receipt usually shows the total paid, with VAT included. With VAT at 20%, the VAT is one sixth of that total.
Some things carry no VAT, such as postage stamps and train fares. Their whole cost goes in the expense column.
Only record VAT when the receipt shows it.
Task 2The analysed petty cash book4 questions
Task 3Posting the totals3 questions