03-06-2009 05:15 AM
Hi,We recently changed our accounting system from Quickbooks to Sage for the Financial year starting 1st october 2008.However the VAT liability for the month of september 2008 was cleared/paid in the month of October 2008.For me to be able to reconcile my bank account for the month of October 2008,I need to bring the vat liability as an opening balance or bring it forward to the month october 2008.
Secondly,how do i make adjustments on the vat liability account to offset things like withholding tax certificates,credit notes and vat on imported services?
Your help will highly be appreciated
03-09-2009 09:14 AM
I believe you have posted in the wrong community forum. This forum is specific the ACT! software. Are you using ACT! for Financial Professionals?