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Double entry accounting for Saudi Arabia (With VAT)
Other countries
Double-Entry Accounting with vat/sales tax
Business
Double entry accounting for keeping track of the VAT transactions and printing a VAT Report for Saudi Arabia.
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Saudi Arabia Company Ltd
Basic Currency: SAR
Double-entry with VAT/Sales tax
| Group | Account | Description | Sum In | Gr1 |
|---|---|---|---|---|
| BALANCE SHEET | ||||
| ASSETS | ||||
| 1000 | Cash on hand | 1 | ||
| 1010 | Post office current account | 1 | ||
| 1020 | Bank account | 1 | ||
| 1090 | Internal transfers | 1 | ||
| 110 | Total Clients CHF | 1 | 1 | |
| 1170 | Recoverable VAT | 1 | ||
| 1200 | Goods for resale | 1 | ||
| 1300 | Prepaid expenses | 1 | ||
| 1301 | Accrued income | 1 | ||
| 1500 | Machinery | 1 | ||
| 1510 | Office equipment | 1 | ||
| 1512 | Store fixture | 1 | ||
| 1520 | Office machinery | 1 | ||
| 1521 | IT Hardware | 1 | ||
| 1526 | Software | 1 | ||
| 1530 | Motor vehicles | 1 | ||
| 1600 | Commercial buildings | 1 | ||
| 1610 | Industrial buildings | 1 | ||
| 1 | TOTAL ASSETS | 00 | 1 | |
| LIABILITIES | ||||
| 200 | Suppliers or Creditors | 2 | 1 | |
| 2100 | Total Suppliers CHF | 2 | ||
| 2170 | Due to banks short-term | 2 | ||
| 2200A | Automatic VAT | 2 | ||
| 2200 | VAT payable | 2 | ||
| 2201 | Automatic VAT Account | 2 | ||
| 2202 | VAT temporary reverse charge | 2 | ||
| 2300 | Accrued expenses | 2 | ||
| 2400 | Due to banks long-term | 2 | ||
| 2800 | Share capital | 2 | ||
| 2850 | Private account | 2 | ||
| 2900 | Legal reserves | 2 | ||
| 2990 | Profit (Loss) carried forward | 2 | ||
| 2991 | Profit/Loss for the period | 2 | 1 | |
| 2 | TOTAL LIABILITIES | 00 | 1 | |
| PROFIT & LOSS STATEMENT | ||||
| REVENUE | ||||
| 3000 | Earnings from own products | 3 | ||
| 3090 | Discounts on production | 3 | ||
| 3200 | Earnings from resale | 3 | ||
| 3290 | Discounts on resale | 3 | ||
| 3400 | Earnings from services rendered | 3 | ||
| 6850 | Earned interests | 3 | ||
| 6892 | Exchange rate profit | 3 | ||
| 7000 | Earnings from accessory activity | 3 | ||
| 3 | TOTAL REVENUE | 02 | 1 | |
| EXPENSES | ||||
| Material, goods and third-party services | ||||
| 4000 | Raw materials | 4 | ||
| 4090 | Discounts | 4 | ||
| 4200 | Expenses for goods for resale | 4 | ||
| 4400 | Third party expenses | 4 | ||
| 4 | Total Material, goods and third-party services | 4-5-6 | ||
| 1 | ||||
| Expenses for personnel | ||||
| 5000 | Salaries production | 5 | ||
| 5700 | Contribution to old age insurance and unemployment | 5 | ||
| 5720 | Contribution to pension funds | 5 | ||
| 5730 | Contribution to accident insurance | 5 | ||
| 5740 | Contribution to voluntary daily benefits insurance | 5 | ||
| 5790 | Imposta alla fonte | 5 | ||
| 5820 | Travel and entertainment expenses effective | 5 | ||
| 5830 | Travel and entertainment expense allowance | 5 | ||
| 5880 | Other personal expenses | 5 | ||
| 5900 | Temporary staff | 5 | ||
| 5 | Total expenses for personnel | 4-5-6 | 1 | |
| General expenses | ||||
| 6000 | Rental | 6 | ||
| 6200 | Repairs expenses | 6 | ||
| 6300 | Insurance | 6 | ||
| 6400 | Gas, water, electricity | 6 | ||
| 6500 | Office supplies | 6 | ||
| 6600 | Advertising | 6 | ||
| 6700 | Other expenses | 6 | ||
| 6800 | Interest expense bank overdrafts | 6 | ||
| 6842 | Exchange rate loss | 6 | ||
| 6900 | Amortization | 6 | ||
| 8900 | Taxes | 6 | ||
| 6 | Total General expenses | 4-5-6 | 1 | |
| 4-5-6 | TOTAL EXPENSES | 02 | 1 | |
| 02 | Profit(-)/Loss(+) for Profit & Loss Statement | 2991 | 1 | |
| 00 | Difference should be = 0 (blank cell) | |||
| Customers/Debtors | ||||
| 11.001 | Customer A | 110A | ||
| 11.002 | Customer B | 110A | ||
| 11.003 | Customer C | 110A | ||
| 11.004 | Customer D | 110A | ||
| 11.005 | Customer E | 110A | ||
| 110A | Total Customers | 110 | 1 | |
| Suppliers/Creditors | ||||
| 20.001 | Supplier A | 200A | ||
| 20.002 | Supplier B | 200A | ||
| 20.003 | Supplier C | 200A | ||
| 20.004 | Supplier D | 200A | ||
| 20.005 | Supplier E | 200A | ||
| 200A | Total Suppliers | 200 | 1 | |
| VAT Code | Description | %VAT |
|---|---|---|
| Explanations VAT Codes | ||
| Initial Char | ||
| 1= Output VAT (Sales) | ||
| 5= Input VAT (Purchases) | ||
| 9=Correction VAT Previous Period | ||
| Second part | ||
| 5 = 5% rate | ||
| 0 = 0% rate | ||
| VAT codes information (do not modify) | ||
| id=vatcodes-sa-2019.0 | ||
| Last update: 2019-01-07 | ||
| VAT Due | ||
| 15 | Standard rated sales | 5.00 |
| 15-1 | Reverse charge on Purchase | 5.00 |
| 10-2 | Private Healthcare/ Private Education sales to citizens | |
| 10-3 | Zero rated domestic sales | |
| 10-4 | Exports | |
| 10-5 | Exempt sales | |
| Total VAT Due | ||
| Recoverable VAT | ||
| 55 | Standard rated domestic purchases | 5.00 |
| 55-8 | Imports subject to VAT paid at customs | 5.00 |
| 55-9 | Imports subject to VAT accounted for reverse charge mechanism | 5.00 |
| 50-10 | Zero rated purchases | |
| 50-11 | Exempt purchases | |
| Total Recoverable VAT | ||
| 95 | Corrections last period | 5.00 |
| Corrections previous period | ||
| Total VAT payable or VAT credit | ||
| :ADJ | Adjustements are registered with the same VAT code used for the transactions that needs an adjustment |