How to record reverse credit for Orissa enabled vat Company
input and output vat duty should be adjusted with each other so that net vat refund or payable can be determined. To adjust this, you need to create a voucher class ” vat Adjustment” and should pass a jorunal entry using this voucher class. Only then your vat return/reports will show you a correct picture of vat position Explore Tally.erp 9 