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Journal to vat account

Good day

i have been using Pastel Partner previously and have recently changed over to sage.

I am trying to capture journals for my client. The various accounts that need to be effected are mostly fine, but for some reason, i am not able to pass any journals to vat account. how would i be able to do this, as on pastel i could capture it without a hassle as i had a vat control account and the contra account was the sales.

how can i do this in sage?

any suggestions would be really helpful.

thanks

Cindy-Lee du Piesanie

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Replies

  • Hi Cindy

     

    In our Practise we made a balancing Account ( basicly a account which will have no amount in / suspense account ) . We use that to process to the VAT account.

    For the above question you will do this : debit or credit the balance / suspense account , choose 100% VAT asjustment on the VAT Type , put in the amount ( this is the amount that will go to your VAT account, contra account will be sales / or whatever account you want to effect

     

    Regards

    Juan

  • Have same issue, below approach will not solve it. Processing VAT adjustment will either debit or credit vat control and will not affect the second leg of the entry. The  manual VAT you can correct the affected account but still cannot post to VAT control or bank account. Also deleting cashbook entry will not work as its prior period error. Please could someone shed light on how to go about this?

  • Hi Cindy,

    Sage One does not have a journal for VAT, you can create a VAT adjustment which will affect your VAT control account directly or you can process a journal entry selecting the option of "manual VAT", this will affect you VAT control only regardless of the accounts you select on the on the journal.

    Regards

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