How do I record a VAT payment, which I’ve recorded in my previous accounting system, in Zoho Books?

To record a previous VAT payment in Zoho Books, kindly follow the instructions below:

  • Create a new Liability account and give it a name, say Old VAT Payment. Refer this link to create an account.

  • Add the old VAT payment amount as an opening balance for Old VAT Payment account in Credits. Please make sure the opening balance date is before all of the transactions date in Zoho Books. This is to increase your liability for VAT.

  • Now, record an expense for your VAT payment amount and choose the account as Old VAT Payment.

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