clerk: journal/testdata/journals/actual-vat.journal (fc9cae13772b625a39129694607847c27edcf23a)

clerk/journal/testdata/journals/actual-vat.journal (view raw)

Oleksandr Smirnov journal: refactor compatibility test runner, 13 days ago

; from https://plaintextaccounting.org/VAT


; Recording a Purchase with VAT (Input VAT)
; Example: Buying office supplies for £100 with 20% VAT.

2025-01-01 * Purchase office supplies
    expenses:office supplies                    £100
    assets:vat:input                             £20
    assets:cash                                -£120

; Recording a Sale with VAT (Output VAT)
; Example: Selling goods for £500 with 20% VAT.

2025-01-02 * Sale of goods
    assets:cash                                 £600
    income:sales                               -£500
    liabilities:vat:output                     -£100

; Balancing VAT at the end of the Period
; Example (VAT Payable): Output VAT is £100 and Input VAT is £20.

2025-01-31 * VAT adjustment
    ; consolidate smaller into larger
    assets:vat:input                            -£20 = £0
    liabilities:vat:output                       £20
    ; convert to a payable or receivable
    liabilities:vat:output                       £80 = £0
    liabilities:vat:payable                     -£80

; Settling VAT
; Example: Paying the above £80 VAT payable.

2025-02-15 * VAT payment
    liabilities:vat:payable                      £80 = £0
    assets:bank                                 -£80

; If VAT was receivable, the business would receive a refund from the tax authorities instead.

; 2025-02-15 * VAT refund
;     assets:vat:receivable                       -£80 = £0
;     assets:bank                                  £80

1	; from https://plaintextaccounting.org/VAT
2
3
4	; Recording a Purchase with VAT (Input VAT)
5	; Example: Buying office supplies for £100 with 20% VAT.
6
7	2025-01-01 * Purchase office supplies
8	expenses:office supplies £100
9	assets:vat:input £20
10	assets:cash -£120
11
12	; Recording a Sale with VAT (Output VAT)
13	; Example: Selling goods for £500 with 20% VAT.
14
15	2025-01-02 * Sale of goods
16	assets:cash £600
17	income:sales -£500
18	liabilities:vat:output -£100
19
20	; Balancing VAT at the end of the Period
21	; Example (VAT Payable): Output VAT is £100 and Input VAT is £20.
22
23	2025-01-31 * VAT adjustment
24	; consolidate smaller into larger
25	assets:vat:input -£20 = £0
26	liabilities:vat:output £20
27	; convert to a payable or receivable
28	liabilities:vat:output £80 = £0
29	liabilities:vat:payable -£80
30
31	; Settling VAT
32	; Example: Paying the above £80 VAT payable.
33
34	2025-02-15 * VAT payment
35	liabilities:vat:payable £80 = £0
36	assets:bank -£80
37
38	; If VAT was receivable, the business would receive a refund from the tax authorities instead.
39
40	; 2025-02-15 * VAT refund
41	; assets:vat:receivable -£80 = £0
42	; assets:bank £80