Where do you record VAT input in the trial balance?

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1023348

2026-04-11 02:35

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In the trial balance, VAT input is typically recorded under current assets, specifically in a separate account labeled "VAT Input" or "VAT Recoverable." This account reflects the amount of VAT paid on purchases that can be reclaimed from tax authorities. It is important to ensure that this account is accurately recorded to reflect the company's financial position regarding VAT recovery.

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