Hello Fellow members,
I am stuck with payment of VAT using Bank Payment Voucher.
I am confused whether I have done it wrongly.
The steps I followed is as follows:
(Input VAT= 25,000; CST Payable = 30,000; Output VAT = 100,000)
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First I used 'VAT settlement' window and got Net VAT payable = 75,000 (100,000 - 25,000) and Net CST payable = 30,000)
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I posted the 'VAT settlement' and as a result, the resultant figure is updated in 'VAT CST payable A/c.'
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I selected Bank Payment Voucher, selected GL Account 'VAT CST Account' and under Tax Payments, selected 'Sales Tax'.
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But unfortunately for me 'There are no Sales tax entries for 'VAT CST Account' message is displayed.
Why is this happening??
Please enlighten me.
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