Problem: How to Accrue VAT on Bank Charges?

Solution: Use Bank Payment and Input VAT Transaction as shown.


NOTE This manual is applicable for Release 2.1.1.20


1. For bank charges enter Bank Payment document with Transaction Type Others.
    The amount should include VAT.


At Payment details tab, put GL Account Banking and Other Costs:

See more 6.2.2.9. Bank Payments (Other)


2. Enter manual Input VAT transaction

 

3. Check the statement


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