Dear All,
I need to know about Bill-to/Sell-to VAT Calculation field in the GL setup card
and Print VAT specification in LCY field. I can’t find it definition and example of
using the fields.Could you tell me them ? I appreciate your answer. tks in advance
Rgds,
Andreas
“VAT” can now on “General Ledger Setup” be set up to either calculate “VAT” based on the “Bill-to/Pay-to” or “Sell-to/Buy-from” address and furthermore the field “VAT Bus. Posting Group” has been put on all documents, to make it possible to choose “VAT Bus. Posting Group” for each document.
From the SP1 changes document, although in SP2 it resolves the issue where this was not calculated correctly on Service Invoices.
Essentially set this then set the bill-to customer to a different VAT bracket as the pay-to and see what happens.
Print VAT specification in LCY means should the VAT specification be in your home currency or not. Do you have VAT specifications? Essentially if you have items of differing VAT calcualtions the sales invoice will show the breakdown of VAT by bracket - this flag (I presume as I do not know where it is) will dictate if this is in your home currency or not.
In the UK, if we send a Sales Invoice to a customer in EUR, the VAT must also be shown in GBP and the exchange rate used so the VAT inspectors can see how the VAT amount was calculated.
Normally, you would also have the Additional Reporting Currency as GBP if your base currency is EUR or USD so the VAT entries can be shown to the VAT inspectors and on the VAT report using the Additional Reporting Currency.
Dear Steven,
tku for reply. I am trying to use is by practising using database here.
I will have new question relate to it or not after do that.
Rgds,
Dear old friend,
tku for your example and answer. I will try to compare here using this navision
Rgds,