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Should VAT be part of customer Account receivbles ?

Feb 26 at 11:36 AM


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Dear Team,

Should VAT be included to customer account receivables balances when recognizing a sale ?

Assuming the collected VAT arising from the sale is claimable.

Before invoice arrive, should the VAT be recorded along with the sale in the customer AR ? or to VAT Balance sheet Current Asset account ?

what would then be the accounting entries ?

thank you.



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