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Thread: How do I account for VAT Output on Fringe Benefits in Pastel Xpress?

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    How do I account for VAT Output on Fringe Benefits in Pastel Xpress?

    Hi,

    If I create the VAT Output on Fringe Benefits, the credit would go to 9500/000 - where would the debit go?

    For example:

    You have to account for VAT Output on an employee using a company car. The value is the supply is determined as 0.3% of the determined value of the vehicle. Say the vehicle is R100,000. So supply is of R100,000 x 0.3% = R300. VAT Output is R300 x 14/114 = R36.84 VAT Output.

    So now I credit 9500/000 with R36.84 - what do I debit?

    Please advise.

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    Wages expense.
    I suggest you use a sub-account so that it is easily identifiable when you complete the SD14, because it will affect the PAYE side as well as the VAT side reconciliations.

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    J7J (01-Jul-13)

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    Thank you. I appreciate your advice.

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