VAT INPUT (PUR-EXP)

19:40 Jul 28, 2023
English to Ukrainian translations [PRO]
Bus/Financial - Accounting
English term or phrase: VAT INPUT (PUR-EXP)
Article in a trial balance of a Cyprus company. I figure VAT input = Input VAT, PUR - purchases? EXP - expenses? I don't see where expenses come into play in the definitions and methods of calculation
Olga Tarasova
Ireland
Local time: 08:38


Summary of answers provided
3ПДВвхідний (закупівлі - витрати)
Vladyslav Golovaty


  

Answers


22 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
ПДВвхідний (закупівлі - витрати)


Explanation:
VAT input account will be Debit. If we are final consumer, we need not show the VAT Input account, its cost will be included in purchase account. https://www.svtuition.org/2013/07/journal-entries-of-vat.htm...
ПДВвхідний — загальна сума «вхідного» ПДВ при придбанні товарів, послуг або необоротних активів (як правило, береться із графи 12 розділу III податкової накладної) https://tinyurl.com/nhzpp4ns
A purchase is an acquisition of goods or services, while an expense is an amount spent for these goods or services. https://www.financestrategists.com/accounting/purchases/

Vladyslav Golovaty
Ukraine
Local time: 10:38
Works in field
Native speaker of: Native in EnglishEnglish, Native in RussianRussian
PRO pts in category: 8
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