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Sales Under GCC VAT

After activating GCC VAT for your company, you can record different kinds of sales such as domestic sales, sales within GCC countries, sales to overseas tourists, and so on. You can also print the tax invoice with rate inclusive of tax for each item. You can provide unique voucher numbers for your sales vouchers, and use a new series of voucher numbering as well.

 

Domestic Sales

Domestic sales refers to the sale of goods or services to customers within the country.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. In Party A/c name, select the registered dealer ledger.
  3. Select the Sales ledger.
  4. Select the required items, and specify the quantities and rates.
  5. Select the additional ledgers. You can select ledgers that are apportioned to the stock item values or separately charged.
  6. Select the VAT ledger.
  7. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis> and press Enter.
  8. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  9. Press Esc to return to the sales invoice.
  10. Accept the screen. As always, you can press Ctrl+A to save.
  11. Press Page Up key to view the invoice in alteration mode.
  12. Press Alt+P (Print) > press Enter on Current. The Voucher Printing screen appears.
  13. In the Voucher Printing screen you can configure the options as needed and print the invoice with the required information.

 

Print Configuration

Before printing the invoice, you can add or remove different kinds of details and print only the required information. A wide variety of options are provided under print configuration to add new details to a invoice printout. When you enable an option under print configuration, the new information will be added as a additional column, as field in the header or footer, or under particulars.

The following are the different configurable options available for invoice printout. The options shown here are for sales invoice, these options change for each voucher type.

  1. In the alteration screen of sales invoice, press Alt+P (Print) > press Enter on Current. The Voucher Printing screen appears.
  2. Press C (Configure) and enable or disable the options to add or remove the respective information before printing the invoice.
  3. Type of select Choose details to show second page onwards > and press Enter. Configure as required to print only the relevant details from the second page of the invoice.
  4. Press Ctrl+A to accept and return to the Print Configuration screen.
  5. Press Enter on Show More > type or select Printer Settings and press Enter twice. Set the options as shown below:
  6. Type or select Print Type > and press Enter to select Single or Bilingual. If the Print Type is:
    • Bilingual, the invoice details will be printed in English and Arabic. To print in Tally’s default print format, type or select Invoice Format > and press Enter to select Invoice Format 1. To print as per FTA, select Invoice Format 2.
    • Single, select the Print Language as Arabic to print the invoice details in Arabic.

      The invoice printed in bilingual (English and Arabic) using Invoice Format 1 appears as shown:

      To print the invoice in simple invoice format, in the Voucher Printing screen, type or select Use Simple Invoice format > and press Enter.

 

Print the date and time on the invoice

  1. Press Alt+P (Print) > press Enter on Configuration.
  2. 2.Type of select Show Date and Time of Voucher printing > and press Enter.

 

Print the invoice from Multi Voucher Printing screen

Based on the print language and invoice format selected in the Voucher Printing screen of sales voucher, you can print vouchers from the Multi-Voucher printing option.

  1. Press Alt+P (Print) > press Enter on Others.
  2. Type of select Multi-Voucher > and press Enter.
  3. Press C (Configure) > select Voucher Type and press Enter.
  4. Type or select Sales.
  5. Press Esc to return to the Print screen. 

 

Print Invoice with Rate Inclusive of VAT

You can print the item rate inclusive of VAT by enabling the option Show Rate (Incl. VAT) in the Print Configuration screen. You have the flexibility to manually enter the rate inclusive of VAT in invoice and print, or configure TallyPrime to autocalculate the same.

In this section

 

Manually enter the rate inclusive of tax in invoice and print invoice

  1. In the sales invoice, press F12 (Configure) > set Provide Rate Inclusive of Tax for Stock Items to Yes.
  2. Manually enter the Rate (Incl. of Tax) in the invoice.
  3. In the Voucher Printing screen of the invoice, press C (Configure) > type or select Show Rate (Incl. VAT) > and press Enter to enable it. Press Esc to save the configuration screen.
  4. Print the invoice. The invoice printed in Bilingual using Invoice Format 1, appears as shown:

 

Print the autocalculated value of rate inclusive of tax in invoice

  1. In the sales invoice, press F12 (Configure) > set Provide Rate Inclusive of Tax for Stock Items to No.
  2. Record the sales invoice.
  3. In the Voucher Printing screen of the invoice, press C (Configure) > type or select Show Rate (Incl. VAT) > and press Enter to enable it. Press Esc to save the configuration screen.
  4. Print the invoice. The invoice printed in Bilingual using Invoice Format 1, appears as shown:

 

Print multiple stock items on the first page of the invoice

As the information is printed in two languages in a bilingual invoice, it requires more space. TallyPrime optimises the print area for the selected paper size to print maximum information on a single page. In case where a small amount of information is getting printed on the second page, you can configure the options in the Print Configuration screen as given below:

  • Enable only the required options. For example, you can avoid printing the VAT analysis, and the sub-total after each line.
  • Increase the height of normal invoice as per your requirement.
  • Set the option Show Address in a continuous line to Yes.
  • If details are printed in the subsequent page, you can mention about this continuity in the Narration. Set the option Show narration to Yes, to print it under Remarks.

 

Impact of Margins on the Alignment of Fields and Columns in the Printed Invoice

The margins on top and left for the header and the columns in the printed invoice are pre-configured. If you reduce these header margin measurements, the alignment of the fields in the printed invoice will be affected. It is suggested that you should avoid altering the default margins in the invoice. In unavoidable circumstances, you can make small changes to the measurement. However, if additional columns and fields are added using F12 (Configure), the alignment will be affected due to the altered margins.

 

Sales to Parties within GCC Countries

Sales made within VAT-implementing GCC countries are not taxable. The party will pay the tax on reverse charge basis. However, if the party is an unregistered dealer, tax can be charged during sales.

If you are a registered dealer located in UAE and supply goods or services to a registered dealer in Saudi Arabia or Bahrain, no tax will be applied in the sales transaction, but you will have to pay tax on a reverse charge basis. However, if you are supplying to an unregistered dealer in Saudi Arabia, tax is applicable.

 

Record Intra GCC supplies to registered dealers

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Select a registered dealer ledger in the Party A/c name field.
    Note: If your company is in:
    ♦ UAE, select a registered dealer from KSA or Bahrain.
    ♦ KSA, select a registered dealer from UAE or Bahrain.
    ♦ Bahrain, select a registered dealer from UAE or KSA.
  3. Select the stock items, enter the quantity and rate.
  4. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
    Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  5. Press Esc to return to sales invoice.
  6. Accept the screen. As always, you can press Ctrl+A to save.

 

Record Intra GCC supplies to unregistered dealers

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Select the unregistered dealer ledger in the Party A/c name field.
    Note: If your company is in:
    ♦ UAE, select an unregistered dealer from KSA or Bahrain.
    ♦ KSA, select an unregistered dealer from UAE or Bahrain.
    ♦ Bahrain, select an unregistered dealer from UAE or KSA.
  3. Select the stock items, enter the quantity and rate.
  4. Select the VAT ledger.
  5. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
    Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:

    Tax will be calculated for goods sold to an unregistered dealer.
  6. Press Esc to return to sales invoice.
  7. Accept the screen. As always, you can press Ctrl+A to save.

 

Sale of Goods and Services in a Single Invoice

You can record the sales of both goods and services in the same invoice by selecting the required sales and VAT ledgers.

To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:

 

Sale of Taxable and Exempt Supplies in a Single Invoice

You can record the sale of both taxable and exempt goods or services in the same invoice by selecting the required sales and VAT ledgers.

Select the taxable goods or services and exempt goods or services in the same invoice.

To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:

 

Sales in the Accounting Invoice Mode

When you maintain only accounting transactions (but not the inventory of your goods), or when your company deals with services, you can use the accounting invoice mode for recording your local and intra-GCC sales.

In this section

 

Sales without additional ledgers

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case).
  3. Select the required service ledgers, and specify the rate or amount.
  4. Select the VAT ledger.
  5. Accept the screen. As always, you can press Ctrl+A to save.

 

Sales with additional ledgers apportioned to taxable value

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case).
  3. Select the required service ledgers (with Type of supply set to Services), and specify the amount.
  4. Select the additional ledger created by setting the option Include in assessable value calculation for to VAT, as shown below:
  5. Select the VAT ledger. VAT gets calculated on the total of sale value and additional ledger.
  6. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
    Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  7. Press Esc to return to sales invoice. The invoice appears as shown:
  8. Accept the screen. As always, you can press Ctrl+A to save.

 

FAQ

Question: In an accounting invoice, I have selected sales ledger, and an additional ledger defined to include in assessable value calculation for VAT. Why is VAT not getting calculated on the additional ledger value?

Answer: This happens when you have selected additional ledger apportioned to quantity. To correct this:

  1. Go to the alteration mode of additional ledger.
    • Press Ctrl+Enter on the additional ledger from the invoice or
    • Gateway of Tally > Alter > type or select Ledger > and press Enter.
    • Alternatively, press Alt+G (Go To) > Alter Master > Ledger > and press Enter.
  2. Select the required ledger.
  3. For the option Appropriate to you can select any of the following:
    • Select Services with Method of Calculation set to Based on Value, as shown below:

      Or
    • Select Both, as shown below:

When you select this ledger in the accounting invoice, the VAT amount will be calculated by considering the additional ledger value.

 

Override Tax Details in an Invoice

In TallyPrime, you can override the tax details in transactions by enabling the override feature in the sales invoice. You can change the nature of transaction, taxable value, and tax rate, as required.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press F12 (Configure) > set Modify Tax Rate details for VAT to Yes.
  3. Select the customer ledger in Party A/c name option.
  4. Select the sales ledger.
  5. Select the required stock items whose VAT rates are specified either at the stock group level or at the stock item level. Specify the Quantity and Rate for the stock item and press Enter from the Amount field.
    The VAT Details screen with the default nature of transaction based on the party location and sales ledger appears as shown below:

    • If you want to alter the taxable value and tax rate, press F12 (Configure), and enable the options as shown below:
    • Press Enter.
  6. You can choose to make changes to the nature of transaction, taxable value, and tax rate.
  7. Press Enter to return to the invoice screen.
  8. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
  9. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  10. Select the VAT ledger. The sales invoice appears as shown below:
  11. Press O to override the default tax details.
Note: In The tax details are modified screen, press Y to accept the voucher with conflicts, you can resolve them in the VAT returns report. Press N to go back to the voucher and make changes. When you press O the voucher is accepted without tax conflicts and is directly included in the returns.

 

Sales with Additional Ledgers

With TallyPrime, you can appropriate the expenses incurred during a sale, to the value of the goods for calculating VAT.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. In Party A/c name, select the customer ledger or the cash ledger.
  3. Select the sales ledger.
  4. Select the required stock items, and specify the quantities and rates.
  5. Select the additional expense ledger in which the options:
    • Taxability is set to Not Vatable
    • Include in assessable value calculation for is set to VAT
    • Appropriate to is set to Goods or Services or Both.
  6. Enter the amount.
  7. Select the VAT ledger.
  8. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter
  9. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  10. Press Esc to return to sales invoice. The invoice appears as shown:
  11.  Accept the screen. As always, you can press Ctrl+A to save.

 

Sales to Overseas Tourists

Sales made to overseas tourists are taxable at the point of sale. However, the tourist can claim the tax amount by showing the tax receipt before leaving the country. To help identify sales made to overseas tourists, TallyPrime has provided an option to mark a sale transaction as sales made to overseas tourists.

In this section

 

Mark a sales as overseas tourist sale

  1. In the sales invoice, set the option Provide VAT details to Yes.
  2. In the Statutory Details screen, enable the option Is Overseas Tourist.
  3. Accept the screen. As always, you can press Ctrl+A to save.

 

Mark a POS invoice as overseas tourist sale

  1. In the POS invoice, select Not applicable in the Party A/c name field.
  2. In the Party Details screen, enable the option Is Overseas Tourist.

    If you do not see this option, press F12 (Configure) > set Skip Overseas Tourist field to Yes.
  3. Enter all the other details in the invoice.
  4. Accept the screen. As always, you can press Ctrl+A to save.

 

Print Overseas Tourist invoice

The title appears as Tax Invoice (Overseas Tourist). The invoice printed in Bilingual sales invoice using Invoice Format 1, appears as shown below:

 

POS Invoice

Create the POS invoice voucher type, record the transaction and print the invoice in Arabic or bilingual.

Create a POS invoice

  1. Gateway of Tally > Create > type or select Voucher Type > and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > Voucher Type > and press Enter.
  2. Enter the Name and Select type of voucher as Sales.
  3. Set the option Use for POS invoicing to Yes as shown below:
  4. Enter the relevant details.
  5. Accept the screen. As always, you can press Ctrl+A to save.

 

Record a POS invoice

  1. Gateway of Tally > Vouchers > press F8 (Sales) > select POS Invoice.
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales) > select POS Invoice.
  2. Select the required Party A/c name and Sales Ledger.
  3. Select the stock items and enter the Rate per unit. If you have enabled the option Provide language alias for Name in stock item configuration, and entered the stock item alias in Arabic, the same will be displayed in the printed invoice.
  4. To change the Quantity, press Backspace and enter the required quantity.
  5. To enter the payment in modes other than cash, press Alt+I (Multi Mode Pymt), and enter the amount in the relevant fields.

    Note: In the POS Invoice Configuration, set the options as shown below to change the quantity, modify the rate per unit and enter party details.
    ♦ Provide Party details in POS Invoice - Yes
    ♦ Skip the Quantity field during voucher entry - No
    ♦ Modify the Rate field during voucher entry - Yes
  6. Accept the POS invoice. The Voucher Printing screen appears.
  7. Press C (Configure).
    • Type or select Show Numerals in Arabic and press Enter.
    • Type or select Show Rate (Incl. VAT) and press Enter.
  8. Accept the configuration screen and print the invoice. The invoice printed in Bilingual using Invoice Format 1, appears as shown:

Alternatively, you can manually enter the rate inclusive of VAT in invoice and print, or configure TallyPrime to autocalculate the same.

  1. In the POS invoice, press F12 (Configure) and set the options Provide Rate Inclusive of Tax for Stock Items and Modify Rate Inclusive of Tax to Yes.
  2. Manually enter the Rate (Incl. of Tax) in the invoice.
  3. In the Voucher Printing screen of the invoice, press C (Configure) > type or select Show Rate (Incl. VAT) and press Enter.
  4. Press Esc to return to Voucher Printing screen.
  5. Print the invoice. The printed invoice will have Rate (Incl. of Tax) entered manually in the invoice.

To print the autocalculated rate inclusive of tax:

  • In the invoice, set the option Provide Rate Inclusive of Tax for Stock Items and Modify Rate Inclusive of Tax to No.
  • In the Print Configuration screen, set the option Show Rate (Incl. VAT) to Yes.

 

Export Sales

Exports include sales made to non-VAT-implementing GCC countries or countries outside GCC. In both the cases, TallyPrime will automatically categorise them as exports and not calculate tax. You can record the export of goods using a sales voucher.

In this section

 

Exports to a party in a non-VAT-implementing GCC country

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. In Party A/c name, select the party who is located in non-VAT implementing GCC country.
  3. Select the sales ledger created with Exports as the Nature of transaction.
  4. Select the goods that are sold and enter the Quantity and Rate.
  5. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
  6. Press Alt+F5 (Detailed) to view in detailed mode. 
  7. Press Esc to return to sales invoice.
  8. Accept the screen. As always, you can press Ctrl+A to save.

 

Export sales to a party outside GCC countries

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. In Party A/c name, select the party who is located outside the GCC countries.
  3. Select the sales ledger created with Exports as the Nature of transaction.
  4. Select the goods that are exported and enter the Quantity and Rate.
  5. To view the VAT – Tax Analysis screen, press Ctrl+I (More Details) > type or select VAT – Tax Analysis > and press Enter.
  6. Press Alt+F5 (Detailed) to view in detailed mode. The VAT – Tax Analysis screen appears as shown below:
  7. Press Esc to return to sales invoice.
  8. Accept the screen. As always, you can press Ctrl+A to save.

 

Supply on Profit Margin

The profit margin scheme of tax applies to second-hand goods, antiques, and collector’s items, where tax is applied on the profit margin achieved on the supply rather than the full value. Therefore, the tax liability is applicable only on the profit margin. In TallyPrime, since tax is not charged on the entire amount, the tax liability for the profit margin is recorded using an adjustment journal voucher.

Purchase of used goods for sale on profit margin should also be recorded by selecting Domestic Purchase – Profit Margin as the Nature of transaction. This will ensure that there is no tax applicability on the purchase or the sale of the same stock item, but only on the profit margin on sale.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. In Party A/c name, select the ledger of the customer belonging to a GCC country.
  3. In the Sales ledger field, select the ledger created with Domestic Supplies – Profit Margin as the Nature of transaction.
  4. Select the used stock items purchased for sale on profit margin. Enter the Quantity and Rate. Press Enter in the Amount field to display Profit Margin Details screen.
  5. Enter the details with respect to the vendor from whom the goods were purchased, as shown below:

    1. Other details: Here you can provide a brief description of the goods.
    2. Marginal value: This is the sales value including the tax liability, but excluding the purchase amount.
    3. Consideration: This value refers to the profit or revenue generated in this sales transaction.
    4. VAT liability: This value refers to the tax amount calculated on the Consideration.
  6. Press Enter to return to voucher.
  7. Accept the screen. As always, you can press Ctrl+A to save.

 

Transfer of Right to Use

When the ownership of goods is transferred to another business for a certain period, the consideration paid for the right to use the goods is taxable. It is to be noted that transactions are recorded only for the consideration amount, and the actual value of the goods are not included in the transaction.

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press Ctrl+H (Change Mode) to select the required voucher mode (Accounting Invoice, in this case).
  3. In Party A/c name, select the ledger of the customer belonging to a GCC country.
  4. Under Particulars, select the sales ledger created with Domestic Supplies – Transfer of Right to Use as the Nature of transaction.
  5. Select the VAT ledger.
  6. Accept the screen. As always, you can press Ctrl+A to save.

 

Transactions with Excise and VAT

When excise is applicable to an item, excise amount should be included in the item value to calculate VAT. In TallyPrime you can account for excise and calculate VAT by including the excise amount.

You have to enable excise for stock items and ledgers to be able to calculate excise in transactions. To account for excise, a separate ledger has to be created by selecting Excise as the Type of ledger.

In this section

 

Enable excise for stock item

  1. Gateway of Tally > Create > type or select Stock Item > and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > Stock Item > and press Enter.
  2. Set the option Is Excise Applicable to Yes.
    If you do not see this option, press F12 (Configure) and set Use Excise to Yes.

 

Create excise duty ledger

  1. Gateway of Tally > Create > type or select Ledger > and press Enter.
    Alternatively, press Alt+G (Go To) > Create Master > Ledger > and press Enter.
  2. Press F12 (Configure) and set Allow allocation of Ledgers for Excise to Yes.
  3. Press Ctrl+A.
  4. Enter the Name of the ledger.
  5. Select the group Duties & Taxes in the Under field.
  6. In the Type of duty/tax field, select the option Others. A new field Type of Ledger appears when the option Others is selected.
    If you do not see this option, press F12 (Configure) and set Allow allocation of Ledgers for Excise to Yes.
  7. In the Type of Ledger field, select the option Excise.
  8. Accept the screen. As always, you can press Ctrl+A to save.

 

Record transactions to calculate excise and VAT

  1. Gateway of Tally > Vouchers > press F8 (Sales).
    Alternatively, press Alt+G (Go To) > Create Voucher > press F8 (Sales).
  2. Press F12 (Configure) and set Calculate Excise Duty to Yes.
  3. Select the customer ledger and the sales ledger.
  4. Select the excise applicable item under Name of Item and enter the quantity and rate.
  5. In the Excise Value field, enter the excise rate or excise amount. When you enter the rate, excise amount appears next to the rate.
  6. Select excise duty ledger created by selecting Excise as the Type of Ledger. Excise amount appears automatically.
  7. Select VAT ledger. VAT is calculated based on the value of the item plus excise. The VAT amount appears automatically.
  8. Accept the screen. As always, you can press Ctrl+A to save.

 

Sales Returns

You can record sales returns against an earlier sales transaction using a credit note.

  1. Gateway of Tally > Vouchers > press F10 (Other Vouchers) > type or select Credit Note > and press Enter.
    Alternatively, press Alt+G (Go To) > Create Voucher > press F10 (Other Vouchers) > type or select Credit Note > and press Enter.
  2. In Party A/c name, select the party to whom the original sales was made.
  3. In Original Invoice No., enter the invoice number of the original sales transaction against which you are recording the current sales return and the Date.
  4. Select the items to be returned, enter the quantity, and press Enter. The Provide Original Invoice Details screen appears.
  5. Enter the taxable amount and tax amount from the sales transaction against which the returns are recorded in the Original Taxable Amount and Original Tax Amount fields respectively.
  6. Press Enter.
  7. Select the VAT ledger.
  8. Accept the screen. As always, you can press Ctrl+A to save.

Similarly, you can record sales returns against an intra-GCC sales transaction by selecting the relevant party, sales ledger, and VAT ledger.

When a credit note is recorded for return of goods or de-escalation or escalation in value of goods only nett value is displayed in the returns and not gross value. In the VAT return report you can view the gross and deductions break for the nett values by enabling the option Show break-up of nett values under F12 configuration.

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