What is VAT book keeping ?
VAT book keeping is the process of recording all of a business's transactions which are subject to Value Added Tax (VAT). This includes sales, purchases, expenses and income, as well as any other financial transactions which may be subject to VAT. The bookkeeping process is an important part of managing a business's finances as it allows the business to accurately track, report and reclaim any VAT due. This helps businesses to remain compliant with their tax obligations and ensure they do not pay more VAT than is necessary.