Transactions

Amounts are net of VAT. VAT is auto‑calculated at 20%. Choose whether each transaction is paid in cash or left on account (Debtors/Creditors). Ledgers and reports update live.

Posting rules: Sale ⇢ Dr Bank/Debtors (gross), Cr Sales (net), Cr VAT (20%). + CoS (10% of net): Dr CoS, Cr Stock. Purchase ⇢ Dr Stock (net), Dr VAT (20%), Cr Bank/Creditors (gross).
Transaction Type Settlement Description Amount (net) VAT (20%) Gross  

Ledger (T‑Accounts)

Cost of Sales posts automatically at 10% of the sale's net as Dr Cost of Sales / Cr Stock. Use the Settlement field to route cash to Bank or to on‑account balances (Debtors/Creditors).

Reports

Trial Balance

AccountDebitCredit

Profit & Loss

ItemAmount

Balance Sheet

ItemAmount