Additional Taxes
In some cases, the Business has to charge more than one tax. This can be in the form of additional tax for the non-filer customer or Federal Excise duty on certain products. We have enhanced the taxes management in Fast Accounts by providing two additional tax charges on Sale Invoices (‘SI’, ‘SC’, ‘SO’) and Supplier Bills (‘VI’, ‘VC’, ‘PO’). ...
Taxes
FastAccounts offers a single-line solution to withholding taxes and receipts making bookkeeping easier than ever before. Varying GST & VAT can be managed for different products and different locations, with our sales module allowing for several sales tax or VAT values to be defined and chosen from. These values can be allocated when creating pr...
Sales Tax Amount Override
Fast Accounts is the fastest-growing Cloud Accounting software made in Pakistan. As the sales tax in Pakistan is a complex area, sometime there is a need to override the auto calculated sales tax amount. In our latest update, we have added a feature where admins or authorised users can override the auto calculated Sales Tax amount. This will ...
Supplier Payments: Additional Withholding Income Tax
FastAccounts.io is currently the fastest-growing Cloud Accounting Software in Pakistan. This is a common practice to make Advance payments to the suppliers. Businesses also need to deduct the advance Withholding Income Tax from the payment. In the latest update, we have made the recording of this transaction much easier. 1. How to Record A...
Customer Receipts: Additional Withholding Income Tax
FastAccounts.io is currently the fastest-growing Cloud Accounting Software in Pakistan. In case a customer has made a payment before the Sale invoice has been generated, and they have deducted with the advance Withholding Income Tax from the payment. In the latest update, we have made the recording of this transaction much easier. 1. How t...
Sales Tax & Additional Tax Reports Update
We have updated the Sales Tax Reports to reflect the Non-Filer Additional Tax and Sales Tax elements. From Main Menu, Go to Reports. Go to Sale Tax Reports Section 1. GST Sale Invoices Details This Report has been updated to show separate columns for GST and Additional Tax. 2. GST Return Summary This report has been updated and...