If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Accounting Treatment for Vat Refund

Lisa2011 · 2023-11-29 10:55:03

I use Big Red Cloud where I work and we received a refund to purchases being greater than sales. I am aware you debit the bank and credit the vat control account but how do I go about doing that in big red cloud I have asked the Group financial controller but he wasn't very helpful.

Options

29-11-2023 11:55am

#1

Lisa2011

Registered Users Posts: 444 ✭✭

Join Date: July 2011

Posts: 397

I use Big Red Cloud where I work and we received a refund to purchases being greater than sales.
I am aware you debit the bank and credit the vat control account but how do I go about doing that in big red cloud
I have asked the Group financial controller but he wasn't very helpful.

0

Comments

Options
#2 01-12-2023 10:40am
Bobby1984

Registered Users Posts: 267 ✭✭

Join Date: September 2009

Posts: 249

Set up a customer account for Revenue and post the receipt to that account. Then do a debtor journal out to the vat control account.

0