Tax
Remitting Sales Tax (VAT) to Authorities
Paying the net tax owed (Output - Input) to the tax department.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Sales Tax Payable | Liability (-) | 1,000.00 | - |
| Cash | Asset (-) | - | 1,000.00 |
💡 Accountant's Note
This is the final step in the VAT cycle—transferring the collected taxes from your books to the government.
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