Separate ledger accounts for tax amounts

This functionality is specific for Portugal.

In Portugal, the following accounting rules apply:

  • Tax on advance payments and receipts must be posted to the same account used for the tax posting when the invoice is created.
  • When you assign advance payments or receipts to invoices, the contra posting for the tax amount must be posted to a separate account.
  • Tax amounts on credit notes must not be posted to the same account as the tax amount on the invoice, but to a separate account.

To create separate sales invoices for credit notes, in the Invoicing Methods (tcmcs0155s000) session, you must clear the Combine Positive and Negative Order Lines check box . If you want to post the tax amounts on credit notes to ledger accounts other than the sales tax account, you must clear this check box.

In the Posting Data for Tax Codes (tfgld0171s000) and the Posting Data for Multiple Tax Codes (tfgld0170s000) sessions, you can define ledger accounts for tax amounts on advance payments and receipts and for tax amounts on credit notes.