Vat entries

1

how do i make entries regarding tax to show Tax paid in P+L?
Could you advise on the full entries regarding VAT in MANAGER.

2

Try searching for “VAT” in the guides section: Guides | Manager

3

i tried, but nothing helpfull on that

4

What, not even here Choose between tax-exclusive and tax-inclusive prices | Manager

5

Read the Guide: Create and use tax codes | Manager.

Also, understand that you will not see VAT anywhere on the profit and loss statement. In a VAT tax regime, tax transactions are posted to the liability account, Tax payable. They are neither income nor expenses of your business. They are amounts collected and held in trust for the tax authority or paid to a supplier to be held in trust by the supplier. In other words, they don’t belong to you, and they don’t change your net profit.

6

Vat doesn’t transit in P&L.

7