Offsetting sales tax on purchases with sales tax on sales


J

JT

I have correctly set up GST (sales tax) on invoicing, and it records a sales
tax liability. However, the amount owed to the government, which is a
quarterly reconciliation, takes into account sales tax PAID on purchases.

At present, I have recorded this in an account called Sales Tax Receivable,
but I cannot find a way to offset this with sales tax payable to find out
what I need to pay (or have due) at the end of each quarter?
 
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D

DL

Anyway never mind
GST is the same as VAT, as used in the EU
You need to use the UK version of moa, if you can find it, which will handle
what you require
 

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