Setting up for VAT partial and tax recovery

  1. Create a tax code record with the Tax Type field and select Tax Table Code.
    1. Sign in as Payables Administrator and select Tax Setup > Tax Codes.
    2. Assign a Tax Code record for the recoverable and another tax code for non-recoverable portions.
  2. Create a Tax Entity Code
    1. Select Tax Setup > Entity Tax Codes.
    2. Specify Tax Input Account and Input Due for each entity tax code record.
    The Tax Codes where Tax Type is Table Member must contain Tax Rates that equal the Tax Table Total Rate.
  3. When you create a payables invoice, including a Tax Code, the Tax Type must be Tax Table. Specify the Input Taxable Amount.
  4. When you create a purchase order, including a Tax Code, the Tax Type must be Tax Table.

    List of related reports:

    • Payables Invoice List
    • Tax Analysis