Book the operations. VAT transactions
Operations during 2021:
1. Opening balance for: inventory = 100.000 EUR, Cash on bank account = 60.000 EUR.
2. Inventory of 10.000 EUR net was purchased and paid via bank transfer. VAT 2.000 EUR.
3. Inventory of 13.000 EUR net was purchased on account. VAT 2.000 EUR.
4. Sales of 100.000 EUR net was made; VAT 10.000 EUR. 40.000 EUR on account, 10.000 EUR for the bank transfer, the rest for cash.
5. The (COGS) cost of goods sold (ad 2.) was 79.000 EUR.
6. Inventory of 20.000 EUR brut was purchased on account. VAT 5.000 EUR.
7. Sales of 10.000 EUR brut was made; VAT 1.000 EUR. 6.000 EUR on account, 1.000 EUR for the bank transfer, the rest for cash.
8. The (COGS) cost of goods sold (ad 5.) was 5.000 EUR.
9. Company calculated the VAT amount.
8. The VAT amount was paid (by us or by the Tax Office) via bank transfer.						i hope this is clear