Hi Experts,
We are conducting import goods from China, however, we will receive import VAT from ES treasury.
Can we use MIRO to record that transaction?
What's the financial documents related to the import VAT ? Should it be looked like this?
1) when received the invoice, use MIRO to record the invoice. Can we configure it to realize the financial document?
Dr GR/IR Tax amount ( to be transferred to inventory in the future)
Cr Tax-payable-VAT tax amount ( the tax base is calculated accordingly)
2) When payed,
Dr Tax-payable - vat
Cr Cash / bank
It's kind urgent!
Many thanks !
Kelvin