Enter a VAT account correction
In Profit, you can make a correction to the VAT account using a general journal. For instance, you might want to make a VAT correction for private use.
To enter VAT account corrections:
- Go to: / / .
- Check and . These are the financial year and the period to which you post the entry.
- Select the general journal.
- Click on:
Profit opens the entry layout for the journal..
- Enter the entry date for the correction entry.
- In the VAT code in question.
On this line, the VAT code is not mandatory. If you enter this line without a VAT code, Profit does not include it in the declaration. If you do post to the VAT ledger account, Profit includes the line in the declaration. field, select the ledger account for the
- Select the next entry line.
- Enter the contra account to which you want to post the amount of the correction.
- Click on: .