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sean58
Level 1
posted
‎April 06, 2021 05:18 AM
last updated ‎April 06, 2021 5:18 AM

I want to transfer the vat portion of each sale to a seperate account to ensure we have funds available, system not allowing me to transfer as vat suspense, what to do?

 
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1 Comment 1
JessT
Moderator
Moderator
‎April 06, 2021 05:48 AM

I want to transfer the vat portion of each sale to a seperate account to ensure we have funds available, system not allowing me to transfer as vat suspense, what to do?

Hi there, sean58.

 

The VAT Suspense account is just used to categorise the VAT portion of our sales. Just be sure that in reality, you have available funds to pay for the accumulated VAT amount.

 

If you want to separate the funds for VAT, you can transfer money from your business account to a different bank account.

 

Feel free to go back to this thread if you have other questions in mind. Have a good day!

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