Easy Office
Easy Office

Vat payment

This query is : Resolved 
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(Querist)
24 January 2013 WHEN WE ARE PAYING VAT WE DEBIT TO P&L A/C & CREDIT TO BANK OR CASH A/C BUT WHEN IT IS NOT SHOWING IN P&L THEN WHAT I MEANT???? WHERE THEY DEBITED VAT PAYMENT
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CA Chandra Kishore Bajpai

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CA Chandra Kishore Bajpai (Expert)
24 January 2013 It should be like that:-
1) Customer A/c Debit
To Sale A/c
To VAT Payable A/c
then at the time of payment it should be

2) VAT Payable Debit
To Bank
thus it will not impact P&L Account

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