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how we will make the invoice agt the material sold to other
party with the VAT adjustment. Also please pass the journal
entry of all process.



how we will make the invoice agt the material sold to other party with the VAT adjustment. Also pl..

Answer / dharmendra jha

Journal Entry for making Invoice
Party A/c ......Dr.
To, Material A/c
To, Output Vat A/c


Journal Entry for vat reconcilation
output vat a/c ......Dr
To, Inputvat A/c
To, Bank/cash A/c (Diff. of output-input)


Journal Entry for receiving the payment
Bank A/c .............Dr
To, Party A/c

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