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I want to know how to enter a payment of VAT to SARS, correctly debiting the bank account and reducing the Current Liabilities VAT Payable account at the same time
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When you make the payment, use that same liability account as the expense (reason) for the payment. That will lower the liability by the amount paid
When you make the payment, use that same liability account as the expense (reason) for the payment. That will lower the liability by the amount paid
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