|
|
| *Loan,banking and credit>>>tax accounting |
SAGE Line 50 accounting software - Tax guidance? |
Sales were made, sales have tax charged, but payment receipts from customer show only the original amount was payed - no tax. A 拢200,000 bill, 拢235,000 after tax, was payed off in 2 installments of 拢50,000 and 拢150,000. The remaining 拢35,000 shows as an oustanding balance on SAGE. What to do? (Theoretical study question, I'm not in charge of any money, dont worry....) can you specify a little more??? according to what you are saying, the customer failed to pay 35,000. Right? In this case you need to bill him for the rest. Unless it was not showing on the invoice.... or he may be tax exempt if possible in your country, which you will need from the customer an exempt certificate to keep for your records.(in case of audit). That's All i can say to help cuz I don't really understand your questions. Plus I am in US when the receipts were entered did you ensure that the tax code was correct? use the journal entries key to Dr/Cr the tax a/c and the customer A/c. it looks like the 拢35k is the VAT element of the 拢200k bill. this needs to be chased unless they should not have been charged vat. |
| Tags |
| tax accounting tax advice tax attorney tax bracket tax calculation tax calculator |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |