Tax Payable Accounts in Journal Entries

1

I want to use the Tax Payable account in Journal Entry, but the option does not appear in the Account Dropdownlist.

In some cases, we are not allowed to credit all of the VAT In that I allocate to this account, and I must return the Value to Direct Expenses using Journal Entries at the end of each month.

2

You need to create your own Tax payable account in Chart of Accounts and link your tax codes to it. Then you will be able to debit / credit in other transactions directly.

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3

OK, previously I didn’t dare change the account on the Tax Code for transactions that had already been entered.

thanks…

4

It’s completely safe. All those existing tax transactions will be going to your new custom account retrospectively.

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