Hello,
I need help !
In France, the sales tax is 20%. I input the invoice with this rate.
once paid by client, it becomes a Sales tax Payable - right ?
then here comes the hook ..
When we pay bills - including the VAT tax - like Joe elect ..sales tax 100.00 included..
French govt. makes me use this 100.00 tax paid to Joe..
and set it against the Tax Payable ..so we never pay the full amount because there are always these ( thus 70,000 in payables, & 49,000 in credits)
expense credits we have to use..
I have been trying to G/L entry this adjustment & now it created this "other " account, which does NOT appear on my chart of accounts.
Please help me fix this -
Thank you
Anne
