19 July 2014
On purchase show the vat charged in the invoice as Input VAT. and at the time of sale show in output VAT. At the end of the month u will come to know the difference balanced between input and output VAT as VAT payable.
Enter both Input and output VAT under Duties and taxes.
Enter the purchase and sales voucher in invoice mode.
19 July 2014
Create 3 ledgers under duties & taxes:- 1.Vat Output. 2.Vat Input. 3.Vat Payable. Purchase entry:- Purchase Dr.......................... Vat Input Dr......................... To vendor.................................. Sale entry:- Vendor Dr.................. To Sales................................... To Vat Output............................... At the time of payment of Vat:- Vat output Dr........................ To Vat Input........................... To Vat Payable.........................
Vat Payable Dr.......................... To Bank.................................
20 July 2014
Just click on help menu in software any serch with relevent keyword and then you can solve your all problems herself. It's just like a google.
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