Tax
Collection of Sales Tax (VAT Output)
Recording a sale that includes sales tax (VAT) collected from a customer on behalf of the government.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable / Cash | Asset (+) | 116.00 | - |
| Sales Revenue | Revenue (+) | - | 100.00 |
| Sales Tax Payable (VAT Output) | Liability (+) | - | 16.00 |
💡 Accountant's Note
The tax collected is not your revenue; it is a liability you owe to the ISTD (in Jordan). You act as a middleman for the government.
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