Tax template: Nepal Tax
The 13% VAT template created by the Nepal IRD setup, posting to VAT Payable. It is the same rate as VAT 13%, not a fee bundle.
In detail
Nepal Tax - YFF is the 13% template the Nepal IRD app created during its setup, with one row VAT @ 13.0 to 2261 - VAT Payable - YFF. It calculates exactly what VAT 13% - YFF calculates and posts to the same account, so an invoice on either template looks the same in the ledger and in the VAT return. The matching Item Tax Template Nepal Tax - YFF splits the rate across VAT Receivable for purchases and VAT Payable for sales. Two identical templates are harmless but confusing, so make one the company default. Do not add fee rows to it; the fees have their own templates.
Formula
VAT = Net total x 13 / 100; Rs 10,000 x 13 / 100 = Rs 1,300
Accounting entry
| Account | Debit | Credit |
|---|---|---|
| Debtors - YFF (Customer) | Rs 11,300 | |
| Sale of Goods - YFF | Rs 10,000 | |
| 2261 - VAT Payable - YFF | Rs 1,300 |
How to record it in BRAccount
- 01Go to Taxes > Sales Taxes and Charges Template and open Nepal Tax - YFF.
- 02Check the row: 13% On Net Total to 2261 - VAT Payable - YFF.
- 03Decide which 13% template is the default and tick Is Default on only one.
- 04Go to Invoicing > Sales Invoice > New; the default loads automatically.
- 05Submit. The VAT credits VAT Payable exactly as with VAT 13%.
When to use it
Either this or VAT 13% works for standard domestic sales; keep one as the company default to avoid confusion.
Example from the demo books
A Rs 10,000 item: VAT Rs 1,300, the same as VAT 13%. Add a separate fee template for fees.