QB Issue Resolution:
The standard rate of 20% applies. However, we are on the FRS (12%), and this is paid on gross turnover. As an art business, selling partly through galleries, we need to show the full selling price of the artwork, rather than what we invoice for, which is the artist’s share, net of the gallery’s commission (typically around 50%).
Resolution for Issue 'How do I gross up a sale which is net of commission for VAT purposes, in respect of the sale of an artwork through a gallery?' available: Yes (Solved).
Source: Intuit Community forum.
How do I gross up a sale which is net of commission for VAT purposes, in respect of the sale of an artwork through a gallery?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for business
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