1. Purchase Invoice - Accounting entries for a typical purchase is :Debits :- Expense of Asset (net total excluding VAT)- Taxes (VAT amount only)Credits:- Supplier (Total amount including VAT)
So you have to enter an expense or an asset account for each row in the items table, the problem is that in the items table you can only see the categories of all expenses (Items / Point 5 / Expense Head). The fixed assets are not included.
2. Journal Voucher - Many times it may not be necessary to accrue an expense, it can be directly booked against an expense account. In this case, how can the VAT be recorded in the Purchase VAT control account ?
Any help?--
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1. Purchase Invoice - Accounting entries for a typical purchase is :Debits :- Expense of Asset (net total excluding VAT)- Taxes (VAT amount only)Credits:- Supplier (Total amount including VAT)So you have to enter an expense or an asset account for each row in the items table, the problem is that in the items table you can only see the categories of all expenses (Items / Point 5 / Expense Head). The fixed assets are not included.To select an asset / liability account in “Expense account” field, mention “account type” as “Expense Account”.2. Journal Voucher - Many times it may not be necessary to accrue an expense, it can be directly booked against an expense account. In this case, how can the VAT be recorded in the Purchase VAT control account ?In Journal Voucher you can select as many row as you need.
Any help?--
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