Entering Basic Information on Reverse Charge VAT for Purchases

In order to have VAT on purchases from the EU treated correctly in the program, you must set up at least one VAT business posting group for this purpose.

To Enter Basic Information on Reverse Charge VAT for Purchases:

  1. Open the VAT Posting Setup window.

  2. Enter a combination of a VAT business posting group and a VAT product posting group and fill in the fields with G/L account numbers.

  3. Click the AssistButton in the VAT Calculation Type field and select Reverse Charge VAT.

  4. Fill in the Reverse Chrg. VAT Acc. field with the relevant G/L account number.

  5. Repeat this procedure to set up as many combinations in the VAT posting setup as necessary.

Related Topics

Recording VAT


© 2009 Microsoft Corporation. All rights reserved.