How to Record a VAT Payment in Wafeq?

Your VAT payment will not appear in your financial reports in Wafeq unless you record it manually. Doing so ensures:

• A reduction in your VAT liabilities.

• The payment is reflected as an outgoing amount from your bank account.

• Wafeq data matches your actual bank transactions and filed returns.

Steps to Record a VAT Payment

1. Go to “Bank Accounts” from the side menu.

2. Click “Ledger transactions” next to the bank account used for the payment.

3. Add a new row with the following details:

   • Date: The date of the payment.

   • Description: VAT payment.

   • Amount: Enter as a negative value (e.g., -1000).

   • Account: Select VAT.

For more details, refer the guide:
Record a VAT Payment in Wafeq