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Posting VAT on Sales Returns & Purchases Returns

  • Student
  • 2 posts
  • # 118803

Hi,

Could anyone please tell me where to post VAT on Sales Returns if you are running separate VAT Input and VAT Output accounts?

I know that if you have a single VAT account it goes on the Debit side, but I am unsure where it goes when you have separate accounts for Input and Output.

Also, where would you post the VAT for Purchase Returns if you are running separate accounts, please?

 

Kind regards,

Mark

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