Workplace · Finance & Accounts AccountingIntermediate
Finance & Accounts Essentials: VAT, TDS and NFRS Basics
Keep clean books, apply VAT and withholding correctly, and close the month with confidence.
Taught by My Skill Lab Workplace Faculty · HR, Finance & Operations Practitioners
What you'll learn
- Record day-to-day transactions using double entry and a chart of accounts suited to a Nepali organisation.
- Issue and check VAT invoices, compute output and input VAT, and prepare the monthly VAT return.
- Identify payments that require tax deducted at source and deposit it on time.
- Run a monthly close with bank, debtor, creditor and tax reconciliations.
- Explain which reporting framework applies (full NFRS, NFRS for SMEs or micro-entity standards) and the annual statutory obligations.
About this course
Built for accounts assistants, officers and finance-curious managers in Nepali companies and NGOs. You will work through the VAT Act 2052 cycle, withholding tax under the Income Tax Act 2058, monthly closing and reconciliations, and the basics of reporting under Nepal Financial Reporting Standards, including NFRS for SMEs.
Course content
5 lessons- 1Books That Hold Up: Double Entry in PracticeChart of accounts, vouchers, the fiscal year and supporting documents.Preview
- 2VAT in Day-to-Day WorkRegistration, tax invoices, output and input VAT, and the monthly return.
- 3Withholding Tax (TDS) on PaymentsWhen to deduct, how to deposit, and the records that prove it.
- 4Monthly Close and ReconciliationsA repeatable close calendar with the reconciliations auditors look for.
- 5Reporting Framework and Annual ObligationsNFRS, NFRS for SMEs, audit and the annual compliance calendar.