Transferring VAT Amounts to the Settlement Account
Transferring VAT amounts to the settlement account means that
the purchase VAT account is credited and the sales VAT account is
debited with the amounts calculated for the VAT statement period.
The net amount is credited (or debited, if the purchase VAT amount
is larger) to the VAT settlement account. You can post the
settlement immediately or print a test report first.
To Transfer VAT Amounts to the Settlement Account:
On the VAT Posting Setup
tab, you can enter codes in the VAT
Bus. Posting Group and VAT
Prod. Posting Group fields to select the entries to be
processed. (If you do not enter any codes, entries with all
business group codes and product group codes are included.)
On the Options tab, specify
the conditions for the batch job. For Help about a specific field,
click the field and press F1.
After filling in the tabs, click Print to start the batch job.
If you print a test report to obtain approval before posting,
you must run the batch job again (and place a check mark in the
Post field) to post.
Attention
If you calculate VAT on trade with EU
countries, you must also prepare a VIES declaration for the tax
authorities.
VAT Statement
window.