VAT Status Maintenance

Menu Path: System Administration $Images\bluerarw.gif$ VAT $Images\bluerarw.gif$ Setup $Images\bluerarw.gif$ VAT Status Maintenance

Purpose

Maintain value-added tax (VAT) status codes.

Overview

Use VAT Status Maintenance to create, update, and delete VAT status codes. VAT status codes are used to describe the status of accounts payable vouchers.

Note If you want to use VAT status codes, you must select the Use VAT Status check box in Tax Control Maintenance.

Some countries require approval for VAT invoices and should be set up with status codes to indicate if a specific voucher was approved. For countries that do not require approval, you can set up a single default status code set up to post to the input VAT account.

Creating VAT Status Codes

To create a VAT status code:

Enter the country for the VAT status code in the Country field.
Click the New button in the ribbon.
Enter the VAT status code in the VAT Status Code field.
Select the general ledger account to which to post VAT amounts when vouchers are created that are assigned the VAT status code.
Enter a description of the VAT status code in the Description field.
If the VAT status code is not active, clear the Active check box.
If the VAT status code is the default code for the country you entered in step 1, select the Default check box.
Click the OK button in the ribbon. The VAT status code is created.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the VAT Status Maintenance window.
New	Click this button to create a new VAT status code.
Update	Click this button to update the selected VAT status code.
Delete	Click this button to delete the selected VAT status code.
OK	Click this button to accept an action. This button is only available after you click the New, Update, or Delete button in the ribbon.
Cancel	Click this button to cancel an action. This button is only available after you click the New, Update, or Delete button in the ribbon.
First	Click this button to display the first VAT status code.
Prev	Click this button to display the previous VAT status code.
Next	Click this button to display the next VAT status code.
Last	Click this button to display the last VAT status code.
Attachments	Click this button to display Attachment Entry, which allows you to view and enter attachments for a selected VAT status code.
Notes	Click this button to display Notes Entry, which allows you to view and enter notes for a selected VAT status code.

Fields and Buttons

Field or Button	Description
Country	Enter a country code for the VAT status code, or click the Lookup button to select a country code. For information on setting up country codes, see Country Maintenance.
VAT Status Code	Enter a VAT status code, or click the Lookup button to select an existing VAT status code.

Main Tab Fields and Buttons

Field or Button	Description
Voucher Option	Select the general ledger account to which to post VAT amounts when vouchers are created that are assigned the VAT status code. Select one of the following options: Pending - Post the VAT amount to the VAT pending account. Use this option to indicate the voucher is in the tax office waiting for government approval. Input - Post the VAT amount to the input VAT account. Use this option to indicate vouchers are approved for countries that require approval, and use this option as the default for countries that do not require approval. Write Off - Post the VAT amount to the VAT write-off account. Use this option to indicate the VAT amount of vouchers will be written off.
Description	Enter a description of the VAT status code.
Active	Select this check box if the VAT status code is active. This check box is selected by default.
Default A/P VAT Account	Enter the default accounts payable VAT general ledger account number to use for the status, or click the Lookup button to select an account number. This account will be used in Voucher Entry for standalone vouchers.
Default	Select this check box if the VAT status code is the default VAT status code for the country. Only one VAT status code can be the default for each country. This check box is cleared by default.
Account Description	Enter the default accounts payable VAT general ledger account description to use for the status, or click the Lookup button to select an account description. This account will be used in Voucher Entry for standalone vouchers.