Good evening,
When I submit a VAT return, do I need to create a journal to 'tell' the software that it is a liability / payment due? Or does the software do this automatically for me? I've looked at the nominal activity and all seems correct but I've submitted 3 VAT returns so far but just posted the outgoing /incoming money to the relevant ledger from the bank feed. So I need to do anything else at all please?
Thank you