Forum Message

Vat

We have a repayment due for the last quarter of last year. How do we post this as an opening balance?


Posted by Norman Rozee on Jan 18, 2010 4:22 PM GMT

Hi Norman,

Go to the Accounts list and double-click on the 'VAT Liability' account to edit the opening balance. When you pay the VAT due, record a Money Paid Out transaction allocated to this liability account with the VAT Treatment set to 'Out of Scope'.

Regards,


Posted by Mark McLaren (Solar Accounts) on Jan 19, 2010 8:39 AM GMT