[Question] Pastel and vat/tax payments and opening balances

[prettypegagirl]

Hi all, I need some help. How do I enter my Opening balance for my Vat? Company year runs from March to Feb, but VAT periods Feb to March etc. How do I go about entering these in Pastel Partner V11? And how do I correctly enter a payment made to SARS for the VAT due?

[prettypegagirl]

Okay... maybe more details will help? I need to bring in the following balances for VAT: VAT Input balance, VAT Output Balance, and then there's a balance in a VAT Control Adjustments account. (These are on another company in pastel, created by other bookkeepers)

Now, I bring them in via a general journal, do I create another opening balance suspense account? Do I enter them directly into the VAT Control account?
Then if the payment goes through the bank account, do I post this to the VAT Control account too via the cashbook?

How would I ensure that my tax report and control accounts balances?

Please help