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VAT Codes - Flip C

This page describes Flip C of the VAT Codes setting. Please follow the links below for descriptions of the other parts of the setting:
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Outp A/C Corr., Inp A/C Corr.
Paste Special    Account register, Nominal Ledger/System module
The Output and Input Correction Accounts will only be visible if the VAT Law in the Company Info setting in the System module is set to "Croatian", "Polish", "Russian", "Serbian", "Slovenian", "Ukrainian" or "United Arab Emirates". You must specify Output and Input Correction Accounts in these fields if you will be using the VAT Correction feature in the Sales and Purchase Ledgers.

Tax Exemption
Paste Special    Tax Exemptions setting, Nominal Ledger
The Tax Exemption field (and the Tax Exemptions setting) will only be visible if the VAT Law in the Company Info setting in the System module is set to "Portuguese". In Portugal, you must specify a Tax Exemption in a VAT Code that is zero-rated (i.e. if the Incl % and Excl % fields are both blank or zero). Enter the official exemption codes in the Tax Exemptions setting so it can act as a look-up table for this field.
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Settings in the Nominal Ledger:

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