Setting up Value-Added Tax Information

Use these general steps to set up value-added (VAT) tax code information in the system for use with the EU VAT Report.

If you plan to use the VAT Report instead, see Setting Up Tax Information for the VAT Report.

  1. In the Tax Systems form:
    • Set up a Tax System 1 with Tax Mode set to Item.
    • Specify the Transfer A/R VAT Tax Code and Transfer A/P VAT Tax Code.
  2. On the Tax Codes form:
    • Select the Transfer VAT check box.
    • Specify the A/R Account and A/P Account.
    • Specify the VAT A/R Received Account field and VAT A/P Paid Account.