Showing posts with label journal entry for vatable sales private. Show all posts
Showing posts with label journal entry for vatable sales private. Show all posts
Monday, December 7, 2015
Journal Entry for VATable Sales - Private
The ff. are the Journal Entries for VATable Sales/Receipts - Private
a) If the purchaser did not deduct Creditable Withholding Tax
dr Cash xxx
cr VATable Sales - Private xxx
cr VAT output xxx
b) If the purchaser deducted Creditable Withholding Tax
dr Cash xxx
dr Creditable WHT xxx
cr VATable Sales - Private xxx
cr VAT output xxx
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