processing invoices and bills

[Maf. King]

On Wed 14 March 12 04:17:08 Ed wrote:
> Hi,
> 
> I have a number of regular customers and vendors that I have entered into my
> database to process invoices and bills. For one off customers or vendors, I
> enter a split transaction in the current account to account for VAT paid
> out/received. When I do a transaction report for VAT, the VAT for the split
> transactions for the one off customers are accounted for but the invoices
> and bills processed via my customer/vendor database do not show the VAT
> paid out/received. Where am I going wrong?
> 
> Thanks,
> 
> Ed
> 


Hi Ed,

Sounds like you may not have set up the tax tables correctly for the AR 
invoices.

Business Menu -> Tax Tables  allows you to set pre-defined rates (eg. 20% 
input, 5% input and 20% output) and the appropriate transfer accounts (VAT 
input/output).  These rates will be automatically added and the VAT split off 
to the correct accounts when you post an invoice/bill.

HTH,
Maf.