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https://help.tallysolutions.com/docs/te9rel64/Tax_International/GCC_VAT/gcc_vat_opening_balance.htm

GCC VAT Opening Balance

Related topics

Tax Liability

Increase of tax liability and input tax credit

You can record the opening balance for your VAT account by debiting the VAT ledger and crediting the current assets ledger.

Record opening balance of VAT

1. Go to Gateway of Tally > Accounting Vouchers > F7: Journal .

2. Click J : Stat Adjustment .

o Select Opening Balance as the Nature of adjustment .

o Press Enter to return to journal voucher.

3. Debit the VAT ledger.

4. Credit the current asset ledger.

5. Press Ctrl+A to accept the voucher.