Glossary
Output tax
Output tax is the tax you add to your sales and collect from customers to hand over to the tax authority.
What it means for a shop owner
It is not your income but money you hold until the filing date. Keep it apart from sales in the books. What you owe the authority is output tax minus input tax.
A worked example
You sell goods for 1000 and add 100 of tax. The 100 is output tax, which you pay over after deducting your input tax.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes