Hi Joanna
This is not a daft question.
It is answered in
https://wiki.gnucash.org/wiki/FAQ#Tax_Handling:_Goods_and_Service_Tax_.28GST.29_or_Value_Added_Tax_.28VAT.29
The exact process may vary, but ultimately these VAT amounts must be
recorded in accounts of type asset or liability.
Please feel free to ask further questions.
On 04/02/18 03:12, Joanna Howells wrote:
I am new to accounting software so just wanted to know if gnucash
handles VAT? I may be asking a daft question, but the other free
software I've looked at specifically says it does handle VAT but there
is no mention that I can see in the description of gnucash.
look forward to hearing back from someone? many thanks!
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