I created a VAT account under liabilities but I cannot get it reflected in the tax reports except for tax payable. Is there any way of having it under tax payable(VAT)?
Tax payable is hard-coded into the program. You should not create new tax accounts, but use the ones there. But you can edit their names under Settings >> Chart of Accounts.
Have you activated Settings - Tax Codes ? If you have you should see a Tax field (see below) in the Sales & Purchases Invoices tabs, enter your VAT here and it will automatically get posted to the Tax Payable account and then it will be reflected in the Tax Reports - don’t use a self created tax account.
I’ve got that but my problem is that I am paying VAT for Customs entries on their e-system hence I really need a separate account for these transactions.
Why, do you have to report these VAT payments separately from other VAT payments on the Tax Reports ?
Yes for filing of VAT returns, anyway I can do it under tax payable however I hope there is room for specific reports.
The VAT is paid on issue of custom entry. This is charged directly to VAT Paid on release of goods.
VAT Paid.pdf (8.1 KB)