accrues VAT: My system correctly accrues VAT into a Current Liabilities Account Called VAT Payable. How do I now correctly handle the actual payment of VAT to SARS.
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
Resolution for 'accrues VAT issue: 'My system correctly accrues VAT into a Current Liabilities Account Called VAT Payable. How do I now correctly handle the actual payment of VAT to SARS.' available: Yes.
The accrues VAT issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the accrues VAT issue yourself by looking for a resolution described in the article. If it is a complex accrues VAT issue or you are unable to solve the issue, you may contact us by clicking here or by using other accrues VAT support options.
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