▶ Do I need to enter an end of year adjustment for VAT when working in Income & Expenditure?

Do I need to enter an end of year adjustment for VAT when working in Income & Expenditure?

No, there's no need for you to manually enter an end of year adjustment for VAT when working in Income & Expenditure. Scribe automatically handles this for you. However, it's a good practice to check that the figure is correct. You can do this by running the VAT/VAT Summary. The closing balance displayed in this report will be the figure reflected on the Balance Sheet.