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Mar 28, 2023 at 05:31 PM

separation of stock and non-stock VAT

50 Views Last edit Aug 31, 2023 at 08:47 AM 2 rev

Hi Everyone,

A client of mine is seeking to have separate VAT GL accounts for stock and non-stock (Goods and services).Their claim is that the VAT for fixed asset purchase ought to be the cost of the item and not the VAT being posted to the VAT input account. Since there is only one VAT allowed on the system, how do i go about such.

Can anyone please advise on how to go about such and if there is a condition to be attached to it.

Thanks and regards

Marcel