Default VAT information to be applied to the G/L Operation is recorded under the "VAT" tab in the G/L Operation Definition window. The information to be entered is:
Transaction Account
Options: This field lists the following three options:
- Exclude VAT
- Update Allowed
- Fixed
When Exclude VAT is selected, VAT related fields are not listed on G/L slip transaction entry. When Fixed is selected, VAT information entered during transaction definition is transferred into the VAT related fields of the G/L slip. When Fixed is selected, the G/L connection codes of the related VAT group are transferred into the “Value/Default" field, and the user cannot modify this field on the slip. When Update Allowed is selected, VAT information can be modified.
VAT Group: Indicates the VAT group to be applied to the G/L Operation. This field lists the Purchase, Sales, Purchase Return, Sales Return, Foreign Purchase and Foreign Sales VAT types, and the relevant definition is selected.
Value/Default: The VAT G/L connection code depending on the related VAT group type. G/L Connection codes are listed, and the related connection code is selected.
Amounts
These fields are used to specify how the VAT amounts will be reflected on the transaction.
General Amount: Indicates whether the VAT will be added to the amount on the “Generate Transaction” window. The amounts field contains the VAT Excluded and VAT Included options. When VAT Included is selected, the VAT calculated by the application is added to the general amount. When VAT Excluded is selected, the VAT is not added to the general amount.
VAT Amount: The field contains two options: Update Allowed and Is Displayed. When Update Allowed is selected, the VAT amount is reflected on the “Generate Transaction” window, and the user can modify the field. When Is Displayed is selected, the VAT amount is reflected on the field, but the field cannot be modified.