Financial - JDE1 (MOSC)

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Payment to Tax Authority

edited Oct 26, 2017 8:54AM in Financial - JDE1 (MOSC) 1 comment

Hi

I have a tax report, I owe 1000 to the Tax authority as per the report. My question is when I make a payment to the tax authority does the amount 1000- will disappear from the tax report.

Q1. The account which I should debit should it be defined as a taxable account in the account master ?

Q2. should I be paying from the liability account from RTxxxx which I should debit and credit the bank ?

Q3. When I make Voucher, payment should I do like this,

         

     Debit                              Credit

     RTxxxx(liability a/c)          A/P Trade

Payment

Debit                              Credit

A/P Trade                         Bank

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