Creating Payables invoice record

When you create the Payables invoice record, use the entity tax code for the country in which the VAT Reverse Indicator is available.

  1. Sign in as Payables Manager and select Manage Invoices.
  2. Click Create Invoice.
  3. Complete the fields.
  4. Click Save.
  5. On the Distributions tab, specify the Distribution Amount and provide the distributions.
  6. Click View to see the linked tax distribution.
  7. Release the invoice.
  8. Select Run Processes > Journalize.
  9. On the Journalize Preview tab, select the specific invoice and click Search.
  10. When the process is complete, generate the report:
    1. Select Tax Setup > VAT Setup > VAT Return Report.
    2. Specify this information:
      Tax Entity
      Select the tax entity code for this country.
      Tax Year
      Select the tax year.
      Tax Period
      Select the tax period.
      Update Option
      Select Yes.
      VAT Reverse Indicator
      Select this check box.
    3. Click Submit.