Hi everyone,
Today I was filing the quarterly taxes (VAT Declaration) in The Netherlands. I'm a very small business owner, so I'm sorry if this is a real beginner question. I want to reset the Balance Sheet Tax row to €0, because I've met the Tax obligations... But how can I make this booking in Zoho Books? I used to work with Excel in the past, where I had a code for this.
More details:
The default Zoho Tax Overview Report works well to see how much tax to pay (Sales Tax, from the invoices send) versus how much tax to receive (Purchase Tax, taxes paid on purchases).
When filing the taxes to the Tax Office though, we only pay rounded numbers.
For example:
Sales Tax: € 200,99
Purchase Tax: €100,50
Tax to pay: € 100,49
So this €100,49 is reported to the Dutch Tax Office as €100. We don't report the cents, meaning that the Balance Sheet Report still shows €0,49 cents of Taxes to pay.
Question:
I want to reset the Balance Sheet Tax row to €0, because I've met the Tax obligations...
But how can I make this booking in Zoho Books? Is there an existing Account code for this?
Anyone who can help?