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Unrealized VAT Type Field, VAT Posting Setup Table

  • 项目

Specify how the program will administer unrealized VAT here, i.e. VAT that is calculated but not due until the invoice is credited. The type of unrealized VAT determines how the payments are distributed between the amount invoiced (not including the VAT) and the VAT amount, and how the VAT amounts are transferred from the Unrealized VAT account to the VAT (Realized) account.

The program automatically sets the option to Blank. The option can only be changed if the check box of the Unrealized VAT field in the General Ledger Setup window is activated.

The following options are available for applying taxes when payments are posted:

<Blank>

Select this option if you do not want the program to use the Unrealized VAT feature for the current combination.

Percentage

If you select this option, the payments will cover both the VAT and the amount invoiced in proportion to the percentage of the payment of the remaining invoice amount. The VAT amount credited is transferred from the Unrealized VAT account to the VAT account.

First

If you select this option, the payments cover the VAT first, and then the amounts invoiced. In this case, the amount transferred from the Unrealized VAT account to the VAT account will be equal to the payment amount until the total VAT amount is credited.

Last

If you select this option, the payments cover the amount invoiced first, and then the VAT. In this case, no amount is transferred from the Unrealized VAT account to the VAT account until the total amount invoiced has been credited, excluding the VAT.

First (Fully Paid)

If you select this option, the payments cover the VAT first (as in the First option), although no amount is transferred to the VAT account until the total VAT amount has been credited.

Last (Fully Paid)

If you select this option, the payments cover the amount of the invoice first (as in the Last option), although no amount is transferred to the VAT account until the total VAT amount has been credited.

Tip

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Parent Tables

Table Location
VAT Posting Setup Table General Ledger
VAT Posting Setup Table General Ledger