). Make each VAT claim a supplier's invoice. Make each re-payment from the VAT Office as a Debit Note first and then fulfilled by their re-payment by allocation.@joe: any SOP for it?
]]>i guess it would be like this
For VAT Payment
Debit Credit
VAT account COA XXXXXX
Bank Account XXXXXXXFor VAT Repayment
Debit Credit
VAT account COA XXXXXX
Bank Account XXXXXXXI hope it helps.
That's what I am doing but it seems to be wrong because FA is showing this amount in Tax Inquiry for the period.
]]>For VAT Payment
Debit Credit
VAT account COA XXXXXX
Bank Account XXXXXXX
For VAT Repayment
Debit Credit
VAT account COA XXXXXX
Bank Account XXXXXXX
I hope it helps.
]]>Joe
]]> ). Make each VAT claim a supplier's invoice. Make each re-payment from the VAT Office as a Debit Note first and then fulfilled by their re-payment by allocation.@joe: any SOP for it?
]]>I am in Ireland.
When I receive a VAT repayment from the Tax office, I put it in Front Accounting as a Journal entry. I Debit the bank account and Credit the VAT account.
It seems to be wrong because FA is showing up this amount in Tax Inquiry.
What is the correct way to put VAT Payment and Repayment to/from the Tax office into FA?
]]>