Situation: at the end of a year (31-12) i have some unpaid invoices, both Debt and Credit.
So in Balance sheet Assets and Liabilities, there are a total amounts Debt and Credit.
But these two amounts are include VAT… is that common???
Normaly when i create Balance in old Xcell sheet, these Debt and Credit are exclude VAT.
As far is i understand accounting, all amouts in Balance- and P&L sheet are exclude VAT,
Is it a normal setting that Debt and Credit on Balance sheet are include VAT?
Or is there somehow a tag, or setting to change this?
I prefer amounts exclude VAT, because the Balance payable VAT is always correct within Manager.
I try to search in topic and guides, but i did not find an answer. Maybe overlooked.