Post Transactions

On the EU VAT Report, if you select the Post Transactions field, the utility posts journal entries to the specified journal ID for a combination of Rate type tax code and Exempt type tax code.

On the journal transactions created:

• Transaction Date is set to the current date.
• Transaction Debit Account is the Acquisition VAT Account from the Tax Codes form.
• Transaction Debit Amount is the total of Voucher Sales Tax amounts.
• Transaction Credit Account is the Acquisition VAT Account from the Accounts Payable Parameters form.
• Transaction Credit Amount is the difference between the total debit and the total credit.